Consider how Preston Valley Waterfall Park Lodge could use capital budgeting to decide whether the $13,000,000 Waterfall 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.) (Click the icon to view additional information.) (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) What is the project's NPV (round to nearest dollar)? Is the investment attractive? Why or why not? Calculate the net present value of the expansion. (Enter the factor to three decimal places, X.XXX. Round your calculations to the nearest whole dollar.) Years Net Cash Inflow Annuity PV Factor (i=10%, n=10) PV Factor (i=10%, n=10) Present Value Years 1 - 10 Present value of annuity Year 0 Initial investment Net present value of expansion i - X Data Table 122 skiers 152 days Number of additional skiers per day Average number of days per year that weather conditions allow skiing at Preston 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 10 years $ 246 77 13,000,000 Discount rate 10% Print Done Assume that Preston Valley uses the straight-line depreciation method and expects the lodge expansion to have no residual value at the end of its ten-year life. The project's average annual net cash inflow per year is expected to be $3,133,936