Consider how Jones Valley Waterfall Park Lodge could use capital budgeting to decide whether the $13,000,000 Waterfall Park Lodge expansion would be a good investment. Assume Jones Valley's managers developed the following estimates concerning the expansion: (Click the icon to view the estimates.) (Click the icon to view additional information.) (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) What is the project's NPV (round to nearest dollar)? Is the investment attractive? Why or why not? Calculate the net present value of the expansion. (Enter the factor to three decimal places, X.XXX. Round your calculations to the nearest v Years Net Cash Inflow Annuity PV Factor PV Factor (i=10%, (i=10%, n=12) n=12) Present Value Data table Years 1-12 Present value of annuity Year 0 Initial investment Net present value of expansion Number of additional skiers per day 122 skiers Average number of days per year that weather conditions allow skiing at Jones Valley 149 days Useful life of expansion (in years) 12 years Average cash spent by each skier per day $ 245 Average variable cost of serving each skier per day 78 Cost of expansion 13,000,000 Discount rate 10% Print Done