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Consider how McKnight Valley Spring Park Lodge could use capital budgeting to decide whether the $13,500,000 Spring Park Lodge expansion would be a good

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Consider how McKnight Valley Spring Park Lodge could use capital budgeting to decide whether the $13,500,000 Spring Park Lodge expansion would be a good investment. Assume McKnight Valey's managers developed the following estimates concerning the expansion: (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 $600,000 at the end of its twelve-year life. The average annual el cash inflow from the expansion is expected to be $2.984,364 Compute the payback for the expansion project. Round to one decimal place B Payback years

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