Consider how Cole Valley Stream Park Lodge could use capital budgeting to decide whether the $13,500,000 Stream Park Lodge expansion would be a good investment. Assume Cole Valley's managers developed the following estimates concerning the expansion: (Click the icon to view the estimates.) Assume that Cole Valley uses the straight-line depreciation method and expects the lodge expansion to have a residual value of $750,000 at the end of its ten-year life. The average annual net cash inflow from the expansion is expected to be $2,837,692. Compute the payback for the expansion project. Round to one decimal place. Payback years 11 A Data Table -X 121 skiers Number of additional skiers per day Average number of days per year that weather conditions allow skiing at Cole Valley Useful life of expansion (in years) Average cash spent by each skier per day Average variable cost of serving each skier per day Cost of expansion Discount rate 143 days 10 years 247 83 $ 13,500,000 14% Print Done