I only need the answer for 14.

Note: Short Exercise S26-4 must be completed before attempting Short Exercise S26-14. S26-14 Using IRR to make capital investment decisions Refer to Short Exercise S26-4. Continue to assume that the expansion has no residual value. What is the project's IRR? Is the investment attractive? Why or why not? tive 2 S26-4 Using the payback and accounting rate of return methods to make capital investment decisions whether the $11,000,000 Snow Park Lodge expansion would be a good investment. Consider how Hunter Valley Snow Park Lodge could use capital budgeting to decide Assume Hunter Valley's managers developed the following estimates concerning the expansion: 121 skiers 142 days Number of additional skiers per day Average number of days per year that weather conditions allow skiing at Hunter 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 7 years 241 83 11,000,000 10% Assume that Hunter Valley uses the straight-line depreciation method and expects the lodge expansion to have a residual value of $600,000 at the end of its seven-year life. Requirements 1. Compute the average annual net cash inflow from the expansion. 2. Compute the average annual operating income from the expansion