Redwood Corporation is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment $850,000 $493,000 Useful life 9 years 9 years Estimated annual net cash inflows for 9 years $110,000 $82,000 Residual value $36,000 $- Depreciation method Straight-line Straight-line Required rate of return 14% How long is the payback period for Proposal X? 17% ..... O A. 6.01 years OB. 10.37 years OC. 7.73 years OD. 23.61 years