Consider how Root Valley River Park Lodge could use capital budgeting to decide whether the $11,000,000 River Park Lodge expansion would be a good investment. Assume Root 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? Whu nr whu nat? Calculate the net present value of the expansion. (Enter any factor amounts to three decimal places, X.XXX. Round to the nearest whole dollar.) Data table More info Assume that Root Valley uses the straight-line depreciation method and expects the lodge expansion to have a residual value of $850,000 at the end of its eight-year life. They have already calculated the average annual net cash inflow per year to be $2,832,005. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{17}{|c|}{ Present Value of \$1 } \\ \hline Periods & 1% & 2% & 3% & 4% & 5% & 6% & 7% & 8% & 9% & 10% & 12% & 14% & 15% & 16% & 18% & 20% \\ \hline Period 1 & 0990 & 0980 & 0.971 & 0.962 & 0952 & 0.943 & 0.935 & 0926 & 0.917 & 0.909 & 0.893 & 0.877 & 0.870 & 0.862 & 0.847 & 0.833 \\ \hline Period 2 & 0.890 & 0961 & 0.943 & 0925 & 0907 & 0890 & 0873 & 0857 & 0.842 & 0826 & 0.797 & 0769 & 0756 & 0.743 & 0718 & 0694 \\ \hline Period 3 & 0971 & 0942 & 0915 & 0889 & 0884 & 0840 & 0816 & 0794 & 0.772 & 0.751 & 0712 & 0675 & 0.658 & 0.641 & 0609 & 0.579 \\ \hline Period 4 & 0961 & 0.924 & 0888 & 0855 & 0823 & 0792 & 0763 & 0735 & 0.708 & 0683 & 0638 & 0.592 & 0.572 & 0.552 & 0.516 & 0.482 \\ \hline Period 5 & 0.851 & 0.906 & 0863 & 0822 & 0784 & 0.747 & 0713 & 0.681 & 0650 & 0.621 & 0.567 & 0.519 & 0.497 & 0.476 & 0.437 & 0.402 \\ \hline Period 6 & 0.942 & 0888 & 0.837 & 0.790 & 0746 & 0705 & 0666 & 0630 & 0596 & 0.584 & 0.507 & 0.456 & 0.432 & 0.410 & 0.370 & 0.335 \\ \hline Period 7 & 0933 & 0.871 & 0813 & 0.760 & 0.711 & 0.665 & 0623 & 0583 & 0.547 & 0.513 & 0452 & 0.400 & 0376 & 0.354 & 0314 & 0.279 \\ \hline Period 8 & 0923 & 0853 & 0789 & 0.731 & 0.677 & 0627 & 0.582 & 0.540 & 0.502 & 0.467 & 0.404 & 0351 & 0.327 & 0.305 & 0.266 & 0.233 \\ \hline Period 9 & 0914 & 0837 & 0766 & 0703 & 0645 & 0.592 & 0.544 & 0.500 & 0.460 & 0.424 & 0.361 & 0.308 & 0.284 & 0.263 & 0.225 & 0.194 \\ \hline Period 10 & 0.905 & 0.820 & 0.744 & 0.676 & 0614 & 0.558 & 0508 & 0.463 & 0.422 & 0386 & 0322 & 0270 & 0247 & 0227 & 0.191 & 0.162 \\ \hline Period 11 & 0896 & 0804 & 0.722 & 0650 & 0585 & 0.527 & 0475 & 0.429 & 0388 & 0.350 & 0287 & 0.237 & 0.215 & 0.196 & 0.162 & 0.135 \\ \hline Period 12 & 0.887 & 0788 & 0701 & 0.625 & 0.557 & 0.497 & 0.444 & 0397 & 0.356 & 0319 & 0257 & 0208 & 0.187 & 0.168 & 0.137 & 0.112 \\ \hline Period 13 & 0.879 & 0773 & 0.681 & 0601 & 0530 & 0469 & 0415 & 0.368 & 0.328 & 0.290 & 0.229 & 0.182 & 0.163 & 0.146 & 0.116 & 0083 \\ \hline Period 14 & 0870 & 0758 & 0661 & 0.577 & 0.505 & 0442 & 0388 & 0340 & 0.299 & 0.263 & 0205 & 0.160 & 0.141 & 0.125 & 0099 & 007 \\ \hline Period 15 & 0.861 & 0743 & 0642 & 0555 & 0.481 & 0417 & 0.362 & 0315 & 0275 & 0.239 & 0.183 & 0.140 & 0.123 & 0.108 & 0084 & 0065 \\ \hline Period 16 & 0.863 & 0728 & 0623 & 0534 & 0458 & 0.394 & 0339 & 0.292 & 0252 & 0218 & 0.163 & 0123 & 0.107 & 0003 & 0.071 & 0054 \\ \hline Period 17 & 0844 & 0714 & oo & 0.513 & 0.436 & 0371 & 0317 & 0.270 & 0.231 & 0198 & 0.146 & 0.108 & 0.093 & 0080 & 0060 & 0045 \\ \hline Period 18 & 0836 & 0700 & 0.587 & 0.494 & 0.416 & 0350 & 0298 & 0.250 & 0212 & 0.180 & 0.130 & 0.085 & 0081 & 0.069 & 0.051 & 0.038 \\ \hline Pariod 19 & ln928 & 0.686 & 0.570 & 0475 & 0396 & 0331 & 0271 & 0230 & 0194 & I.184 & 0.116 & & & & & \\ \hline \end{tabular} Present Value of Ordinarv Annuitv of \$1