Redwood Corporation is considering two alternative investment proposals with the following data: Investment Useful life Estimated annual net cash inflows for 9 years Residual value Depreciation method Required rate of return Proposal X $850,000 Proposal Y $476,000 9 years 9 years $120,000 $71,000 $35,000 $- Straight-line Straight-line 17% 5% How long is the payback period for Proposal Y? OA. 6.70 years B. 13.60 years C. 24.29 years D. 7.08 years