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2) (15 points) A toll road was constructed at a cost of $5 million. Outlays of $0.2 million for operations are anticipated every year, and
2) (15 points) A toll road was constructed at a cost of $5 million. Outlays of $0.2 million for operations are anticipated every year, and outlays of $0.75 million every 10 years for major maintenance. At an interest rate of 8% per year, determine the present worth of this permanent project (i.e, project lasts "forever")
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