Robertson Resorts is considering whether to expand its Pagosa Springs Lodge. The expansion will create 24 additional rooms for rent The following estimates are available: Cost of expansion Discount rate Useful life Annual rental income. Annual operating expenses $ 3,470,000 8% 20 $ 1,550,000 $ 1,100,000 Robertson uses straight-line depreciation and the lodge expansion will have a residual value $2,240,000. Required: 1. Calculate the annual net operating income from the expansion. 2. Calculate the annual net cash inflow from the expansion. 3. Calculate the ARR. Note: Round your answer to 2 decimal places. 4. Calculate the payback period. Note: Round your answer to 1 decimal place. 5. Calculate the NPV (Euture Value of $1.Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1) Note: Use appropriate factor(s) from the tables provided. Do not round intermediate calculations. Round your final answer to nearest whole dollar amount. 1. Annual Operating Income 2 Annual Net Cash Inflow 3 ARR 4 Payback Period 5 NPV % years