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A Canadian city approved building Rapid Transit (ION) to provide greater transportation choice for residents. Here are some estimates of cash flows, and other information,

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A Canadian city approved building Rapid Transit (ION) to provide greater transportation choice for residents. Here are some estimates of cash flows, and other information, for the plan. First cost in year 0: $800,000,000 Annual operating cost: $9,000,000 in year 1, increasing by 4% per year Major technology upgrades: $22,000,000 every four years, starting seven years from now MARR = 15.23% Number of passengers per year = 10,000,000 use per year (100,000 passengers using it on average for 100 times per year). Calculate the levelized cost for each ticket. The levelized cost for each ticket is (Round to the nearest cent as needed.)

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