1. An engineering company purchases a geotechnical lab at a cost of $3,000,000. They estimate that the cost of maintenance and materials will be $200,000 per year. The life of the lab is expected to be 10 years. The company is counting on a profit/inflation of 10% annually compounded biannually. How much work must they do every 6 months to achieve that profit level? a. $350K b. $351K c. $352K d. $353K e. $354K f. $355K g. $356K h. $357K i. $358K j. $359K k. $360K