3. In order to improve evacuation routes out of New Orleans in the event of another major disaster such as Hurricane Katrina, the Louisiana Department of Transportation (L-DoT) is planning to construct an additional bridge across the Mississippi River. The department uses an interest rate of 8% and plans a 50-year life for either bridge, which design has the better present worth? All costs in SM Suspension Cantilever Initial construction S585 Land acquisition Annual O&M Annual increase Major Maintenance185 (Year 25) Salvage Cost Bridge 120 4% Bridge $470 95 0.3 210 30 27