# 04 The town of Elmira, Ontario, has limited parking for cars near its main shopping street. The town plans to pave a lot for parking near King Street. The main beneficiaries will be the merchants and their customers. The present worth of expected benefits is $3 000 000. The cost to the town of buying the lot, clearing, paving, and painting is expected to be $500 000. The present worth of expected maintenance costs over the lifetime of the project is $50 000. In the period in which the lot is being cleared and paved, there will be some dis- benefits to the local merchants and customers due to disruption of traffic in the King Street area. The present worth of the disruption is expected to be about $75 000. What is the benefit-cost ratio

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