12 C2 = C, X 11 = = C1 = Cost of Base Year C2 = Estimated Cost 11 = Cost Index of base year 12 = = Cost Index of Estimate year = = Example 2) Use cost-index method. compute the estimation of the new project. Calculate the forecast cost of a new project. (total area of 62,700 m2). The new project will be constructed in 3 years from now in city B Historical data: $2,954,250 (38,500m2, 2 years ago, city D) Year Index 3yrs ago 358 2yrs ago 359 1yr ago 367 Current yr 378 Location Index City A 1025 City B 1170 City C 1260 City D 1240