3. Water rights 1 You want to build a water project that will store 50,000 acre-feet of water and yield 10,000 acre-feet per year. If you want to finance the project by selling water rights as shares in the project, how much would you charge per acre-foot? The project cost is S20 million and it will require SI million per year in O&M. The project will require an investment of S10 million every 20 years for renewal. Interest rate is 5%