Redwood Corporation is considering two alternative investment proposals with the following data: Proposal Y $467,000 8 years Proposal X $810,000 8 years Investment Useful life Estimated annual net cash inflows for 8 years $105,000 $35,000 Straight -line 16% $83,000 $- Residual value Straight line 7% Depreciation method Required rate of return How long is the payback period for Proposal X? O A. 7.71 years O B. 23.14 years O C. 5.63 years O D. 9.76 years