1. The Parks and Recre has estimated that the initial cost of a "bare-bones" permanent river park will be $2.3 million. Annual upkeep costs are estimated at $120,000. Benefits of S340,000 per year and dis- benefits of $40,000 per year have also been identified. Using a discount rate of 6% per year, calculate (a) the conventional B/C ratio and (b) the modified B/C ratio