1.5. A railway connecting to cities is to be built at a cost of SR 20 million. The annual maintenance is expected to cost SR 100,000. A major rehabilitation will be needed every 10 years and costs SR 1,500,000 starting at the end of the 12 year. If an endowment is to be established at 5% compounded annually interest rate to fund the costs, what should be the value of the endowment? a. SR 30,650 K b. SR 24,163 K CSR 29.325 K d. SR 22.163 K