Redwood Corporation is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment $840,000 $493,000 Useful life 8 years 8 years Estimated annual net cash inflows for 8 years $115,000 $65,000 Residual value $67,000 Depreciation method Straight-line Straight-line Required rate of return 15% 8% $- How long is the payback period for Proposal Y? O A. 7.58 years OB. 7.30 years OC. 7.36 years OD. 12.54 years