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9. We want to donate a marble birdbath to the city park as a memorial to our cat, Fred, while he can still enjoy it.
9. We want to donate a marble birdbath to the city park as a memorial to our cat, Fred, while he can still enjoy it. We also want to set up a perpetual care fund to cover future expenses forever. The initial cost of the bath is $5000. Routine annual operating costs are $200 per year, but every fifth year the annual operating costs are $500 to cover major cleaning and maintenance as well as operation. What is the capitalized cost of this project if the interest rate is 8%
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