Redwood Corporation is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment $800,000 $472,000 Useful life 10 years 10 years Estimated annual net cash inflows for 10 years $125,000 $72,000 Residual value $23,000 $- Depreciation method Straight-line Straight-line Required rate of return 20% 5% How long is the payback period for Proposal Y? O A. 6.40 years B. 6.56 years C. 20.52 years D. 34.78 years