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.) Requirement First enter the Requirement First enter the Requirement 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... Average number of days per year that weather conditions allow skiing at Clare Valley Useful life of expansion (in years).. Average cash spent by each skier per day. $ Average variable cost of serving each skier per day. S Cost of expansion.. $ Discount rate 118 160 10 239 142 8,500,000 12% C 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. answer to the nearest dollar.) ge annual ash inflow r answer to the nearest dollar.) operating asset 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.) x T = II 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.) || 11 Average annual net cash inflow 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 %