Consider how Smith Valley Waterfall Park Lodge could use capital budgeting to decide whether the $13,000,000 Waterfal Park Lodge expansion would be a good investment Assume Smith Valley's managers developed the following estimates concerning the expansion: (Click the icon to view the estimates.) Assume that Smith Valley uses the straight-line depreciation method and expects the lodge expansion to have a residual value of $500,000 at the end of its ten-year life. The average annual net cash inflow from the expansion is expected to be $2,948,496. Compute the payback for the expansion project. Round to one decimal place. Amount invested Expected annual net cash infow Payback Data Table Number of additional skiers per day Average number of days per year that weather conditions 122 skiens allow skiing at Smith 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 Discount rate 152 days 10 years 248 87 13,000,000 8% $ choose fro acBook Pro Dll bo ag delete 8 9 0 7