A town built on a river is considering building an additional bridge across the river. Two proposals have been put forward for bridges at different sites. The costs of each proposal are summarized as follows:

Description Bridge A Bridge B Initial cost of bridge ` 6,500,000 ` 5,000,000 Initial cost of road works ` 3,500,000 ` 3,000,000 Annual maintenance of bridge ` 50,000 ` 90,000 for first 15 years and 110,000 thereafter Annual maintenance of roads ` 30,000 ` 25,000 Life of bridge 60 years 30 years Life of roads 60 years 60 years With the cost of capital at 9%, which proposal should be adopted? (Assessment of the proposals to be carried out by a comparison of their present worth)