Consider how Kyler Valley Stream Park Lodge could use (Click the icon to view Present Value of $1 table.) capital budgeting to decide whether the $13,500,000 Stream Park Lodge expansion would be a good (Click the icon to view Present Value of Ordinary investment. Assume Kyler Valley's managers developed the Annuity of $1 table.) following estimates concerning the expansion: (Click the icon to view the estimates.) What is the project's IRR? Is the investment attractive? Why or why not? (Click the icon to view additional information.) The internal rate of return (IRR) of the expansion is 10-12% 12-14% 15-16% 16-18% Data Table 114 skiers 149 days Number of additional skiers per day Average number of days per year that weather conditions allow skiing at Kyler 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 11 years $ 236 77 13,5 ,000 Discount rate 8% Print Done Assume that Kyler Valley uses the straight-line depreciation method and expects the lodge expansion to have no residual value at the end of its eleven-year life. The project is expected to have an average annual net cash inflow of $2,700,774. The NPV of the expansion is expected to be $5,780,826