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S26-4 Using the payback and accounting rate of return methods to make capital investment decisions Learning Objective 2 Consider how Hunter Valley Snow Park Lodge could use capital budgeting to decide whether the \$11,000,000 Snow Park Lodge expansion would be a good investment. Assume Hunter Valley's managers developed the following estimates concerning the expansion: Assume that Hunter Valley uses the straight-line depreciation method and expects the lodge expansion to have a residual value of $600,000 at the end of its seven-year life. Requirements 1. Compute the average annual net cash inflow from the expansion. 2. Compute the average amnual operating income from the expansion. Note: Shoif Exercise S26-4 musi be complered before attempring Short Exereise S26-S. S26-5 Using the payback method to make capital investment decisions Learning Objective 2 Refer to the Hunter Valley Snow Park Lodge expansion project in Short Exercise S26-4. Compute the payback for the expansion project. Round to one decimal place. Note: Short Exercise S26-4 must be completed before attempring Short Exercise S26-6. S26.6 Using the ARR method to make capital investment decisions Learning Objective 2 Refer to the Hunter Valley Snow Park Lodge expansion project in Short Exercise S26-4. Calculate the ARR. Round to two decimal places