Consider how Flint Valley, a popular ski resort, could use capital budgeting to decide whether the $8 million Snow Park Lodge expansion would be a good investment. (Click the icon to view the expansion estimates.) Assume that Flint Valley uses the straight-line depreciation method and expects the lodge expansion to have a residual value of $850,000 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.) Requirements 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. Data table