Consider how Mcknight Vailey River Park Lodge could use capital budgeting to decide whother the $12,000,000 River Park Lodge expansion would be a good ifvestment Assume McKnight Valley's managers developed the following estimates concerning the expansion: I\#" (Click the icon to view the estimates.) Assume that McKnight Valley uses the straight-line depreciation method and expects the lodge expansion to have a residual value of $750,000 at the end of is eight-year 14 The average annuat operating income from the expansion is $1,211,580 and the dopreciatign has been calculated as $1,406,250. Celculate the ARR. Round to two decimal ploces. Data table