Assume that Golden Valley's managers developed the following estimates concerning a planned expansion to its Brook Park Lodge (all numbers assumed): Number of additional skiers per day.. 123 Average number of days per year that weather conditions allow skiing at Golden Valley 160 Useful life of expansion (in years)..... 8 Average cash spent by each skier per day $ 245 Average variable cost of serving each skier per day . $ 140 Cost of expansion $ 8,500,000 Discount rate... 10% 1. Compute the average annual net cash inflow from the expansion. 2. Compute the average annual operating income from the expansion. 3. Compute the payback period. 4. Compute the ARR. Consider how Golden Valley, a popular ski resort, could use capital budgeting to decide whether the $8.5 million Brook Park Lodge expansion would be a good investment. (Click the icon to view the expansion estimates.) Assume that Golden Valley uses the straight-line depreciation method and expects the lodge expansion to have residual value of $800,000 at the end of its eight-year life. Read the requirements Requirement 1. Compute the average annual net cash inflow from the expansion. First enter the formula, then compute the average annual net cash inflow from the expansion. (Round your answer to the nearest dollar.) Average annual net cash inflow x = Requirement 2. Compute the average annual operating income from the expansion. First enter the formula, then compute the average annual operating income from the expansion. (Round your answer to the nearest dollar.) Average annual operating income from asset Requirement 3. Compute the payback period. First enter the formula, then compute the payback period. (Enter amounts in dollars, not millions. Round your answer to two decimal places.) Payback period years Requirement 4. Compute the ARR. First enter the formula, then compute the accounting rate of return. (Enter amounts in dollars, not millions. Enter your answer as a percent rounded to two decimal places.) Accounting rate of return %