Redwood Corporation is considering two alternative investment proposals with the following data Proposal X Proposal Y Investment $830,000 $485,000 Useful life 9 years 9 years Estimated annual net cash inflows for 9 years $130,000 $62,000 Residual value $28,000 $- Depreciation method Straight-line Straight-line Required rate of return 13% 8% How long is the payback period for Proposal X? O A. 13.39 years OB. 29.64 years OC. 7.82 years OD. 6.38 years