3-24. Today a proposed community college is estimated to cost $34.6 million, which is $127 per square foot of space multiplied by 272,310 square feet. If construction costs are expected to increase by 19% per year because of high demand for construction labor and materials, how much would a 320,000-square-foot community college cost five years from now? The cost capacity factor is 1.0. (3.3)