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Instructions Show Canmore Ski Corp. is studying the feasibility of installing a chair lift to expand the capacity of its tourist operation. Site preparation would require the expenditure of $1,900,000 at the beginning of the first year. Construction would require an additional expenditure at the beginning of the second year at a cost of $5.8 million. The lift would have a useful life of 12 years and a residual value of $800,000. The increased capacity should generate increased annual profits of $600,000 at the end of Years 2 to 5 Inclusive and $1 million in Years 6 to 13 inclusive a) What is the economic value of the project if it requires a return on investment of 7%? b) Should the Ski Corp. proceed with the project if it requires a return on investment of 7%