Consider how White Valley Stream Park Lodge could use capital budgeting to decide whether the $11,500,000 Stream Park Lodge expansion would be a good investment. Assume White Valley's managers developed the following estimates concerning the expansion: BF(Click the icon to view the estimates.) Assume that White Valley uses the straight-line depreciation method and expects the lodge expansion to have a residual value of $1,000,000 at the end of its eight-year life. The average annual net cash inflow from the expansion is expected to be $2,661,120. Compute the payback for the expansion project. Round to one decimal place. Data Table Payback years Number of additional skiers per day 120 skiers Average number of days per year that weather conditions 144 days 8 years allow skiing at White 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 $ 240 86 11,500,000 Discount rate 12% Print Done Robertson Hardware is adding a new product line that will require an investment of $1,512,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $300,000 the first year, $280,000 the second year, and $250,000 each year thereafter for eight years. Compute the payback period. Round to one decimal place. The payback is years