Please show all work and formulas

Requirements 1. 2. Will the payback change? Explain your answer. Recalculate the payback if it changes. Round to one decimal place. Will the project's ARR change? Explain your answer. Recalculate ARR if it changes. Round to two decimal places. Assume Smith Valley screens its potential capital investments using the following decision criteria: 3. 5.3 years Maximum payback period Minimum accounting rate of return 12.00 % Will Smith Valley consider this project further or reject it? Print Dane Data Table 118 skiers 146 days 10 years Number of additional skiers per day Average number of days per year that weather conditions 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 $ 235 88 11,500,000 8% Print Done More Info Under the assumption that the expansion would have a residual value of $500,000, the managers calculated the payback period to be 4.5 years, the ARR to be 23.88%, the average annual operating income to be $1,432,516, the average amount invested to be $6,000,000, and the average annual net cash inflow to be $2,532,516. Assume that Smith Valley uses the straight-line depreciation method and now expects the lodge expansion to have zero residual value at the end of its ten-year life. Print Done