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A bridge is to be constructed now as part of a new road. An analysis has shown that traffic density on the new road will

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A bridge is to be constructed now as part of a new road. An analysis has shown that traffic density on the new road will justify a two-lane bridge at the present time, but it needs to be expanded to four lanes in the future. Because of uncertainty regarding future use of the road, the time at which expanding the road will be required is currently being studied. The estimated probabilities of having to widen the bridge to four lanes no later than Year k, denoted by Prob(k), is given in the table below. Year k Cost C(k)Probability Prob(k 2 3.4 4.1 4.6 0.4 The present estimated cost of the two-lane bridge is S3M and that of a four-lane bridge constructed now will cost $5.8M. The future cost of widening a two-lane bridge in year k, denoted by C(k), is also in the table. Assume MARR-10%. Please make your recommendation

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