Consider how Clare Valley, a popular ski resort, could use capital budgeting to decide whether the $8.5 million River Park Lodge expansion would be a good investment. (Click the icon to view the expansion estimates.) Assume that Clare 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 ten-year life. Read the requirements. Requirement First enter the Data table Assume that Clare Valley's managers developed the following estimates concerning a planned expansion to its River Park Lodge (all numbers assumed): Number of additional skiers per day..... answer to the nearest dollar.) ge annual ash inflow 118 Requirement Average number of days per year that weather conditions allow skiing at Clare Valley.. 160 First enter the Useful life of expansion (in years)..... 10 Average cash spent by each skier per day.......... $ 239 r answer to the nearest dollar.) operating Average variable cost of serving each skier per day . $ 142 asset Cost of expansion... Discount rate.... $ 8,500,000 12% Requirement 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.) Requirement 2. Compute the average annual operating income from the expansion. = Average annual net cash inflow = 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.) Requirement 4. Compute the ARR. = Payback period years 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 = %