15.2. A proposed new bus route is expected to require 10 new buses and to operate a total of 650,000 veh-km/year and 35,000 veh-h/year. Buses cost $175,000 each, have 10 year life, and a salvage value after 10 years of $20,000 each. Operating costs include labor costs (wages; benefits, etc.) at $47.00/veh-h, maintenance costs at $0.18/veh-km, and cost of fuel oil, tires, etc. at $0.40/veh-km. Calculate the life cycle cost (present value) of adding this route and operating it for 10 years, assuming an annual interest rate of 8 percent