Calculate the B/C ratio for the following cash flow estimates at a discount rate of 10% per year. Is the project justified?

Item ...............................................Estimate
PW of benefits, $ .......................3,800,000
AW of disbenefits, $/year .............45,000
First cost, $ ................................1,200,000
M&O costs, $/year ......................300,000
Life, years ..............................................20