Step 1: Determine the inclination of the plane.
Since the block slides down with constant velocity,
\[
mg\sin\theta=\mu mg\cos\theta.
\]
Thus,
\[
\tan\theta=\mu=\frac1{\sqrt3}.
\]
Hence,
\[
\boxed{\theta=30^\circ.}
\]
Step 2: Find the retardation while moving upward.
While the block moves upward, both gravity and friction act down the plane.
Therefore,
\[
a=g\sin30^\circ+\mu g\cos30^\circ.
\]
Now,
\[
g\sin30^\circ=\frac{g}{2},
\]
and
\[
\mu g\cos30^\circ
=
\frac1{\sqrt3}\times g\times\frac{\sqrt3}{2}
=
\frac{g}{2}.
\]
Hence,
\[
a=g=9.8\,\text{m s}^{-2}.
\]
Step 3: Use the equation of motion.
Using
\[
v^2=u^2-2as,
\]
where
\[
v=0,
\qquad
u=9.8\,\text{m s}^{-1},
\qquad
a=9.8\,\text{m s}^{-2},
\]
we obtain
\[
0=(9.8)^2-2(9.8)s.
\]
Therefore,
\[
s=\frac{9.8}{2}=4.9\,\text{m}.
\]
Hence,
\[
\boxed{s=4.90\,\text{m}.}
\]
Therefore, the correct option is \(\boxed{(D)}\).