Consider how Preston Valley River Park Lodge could use capital budgeting to decide whether the $12,000,000 River Park Lodge expansion would be a good investment. Assume Preston Valley's managers developed the following estimates conceming 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 eight-year life. The average annual net cash inflow from the expansion is expected to be $2.672,514. Compute the payback for the expansion project. Round to one decimal place. Data table -Payback years Number of additional skiers per day 117 skiers Average number of days per year that weather conditions 141 days allow skiing at Preston Valley Useful life of expansion (in years) 5 years Average cash spent by each skier per day $ 243 Average variable cost of serving each skier per day 81 Cost of expansion. 12,000,000 Discount rate 10% - X