Consider how Preston Valley Brook Park Lodge could use capital budgeting to decide whether the $$13,500,000$ Brook Park

Lodge expansion would be a good investment. Assume Preston Valley's managers developed the following estimates

concerning the expansion:

$($Click the icon to view the estimates.$)$

Assume that Preston 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 ten$-$year life. The average annual net cash inflow from the expansion is expected to be

$$2,682,966.$

Compute the payback for the expansion project. Round to one decimal place.

Data table