A county is planning a new children's park. The Park will have an infinite life. The following are the expected expenses to get the project in place. The initial cost will be a one-time cost that will be paid by the city government. The replacement costs and the annual maintenance and operating costs would be raised through ticket sales. The price of a ticket will be based upon an estimated 1200 visitors per month to the park.

If money can be invested in a fund that pays 9%, what should the price of a ticket be to keep the park running forever?

Please do without using Excel

Initial Cost	$400,000
Facilities (Bathrooms, pavilions, etc.) replacement cost	$50,000 every 20 years
Annual operation and maintenance costs:
Direct Labor	$30,000/yr
Electricity	$15,000/yr
Maintenance supplies	$5,000/yr