Consider how Golden Valley, a popular ski resort, could use capital budgeting to decide whether the $9 million River 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 a residual value of $850,000 at the end of its eight-year life. Read the Data table Assume that Golden 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 Golden 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 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. Discount rate 125 156 8 241 132 9,000,000 10% Consider how Golden Valley, a popular ski resort, could use capital budgeting to decide whether the $9 million River 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 a residual value of $850,000 at the end of its eight-year life. Read the reg Data table 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. First enter the formula, then compute the accounting rate of return. (Enter amounts in dollars, not millions. Enter your answer as a percent re Accounting = rate of return =% Consider how Golden Valley, a popular ski resort, could use capital budgeting to decide whether the $9 million River 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 a residual value of $850,000 at the end of its eight-year life. Read the Data table Assume that Golden 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 Golden 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 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. Discount rate 125 156 8 241 132 9,000,000 10% Consider how Golden Valley, a popular ski resort, could use capital budgeting to decide whether the $9 million River 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 a residual value of $850,000 at the end of its eight-year life. Read the reg Data table 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. First enter the formula, then compute the accounting rate of return. (Enter amounts in dollars, not millions. Enter your answer as a percent re Accounting = rate of return =%