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A municipality decided to build a new bridge to accommodate the city's growing traffic across the river. It has to pay $200,000 to construct the
A municipality decided to build a new bridge to accommodate the city's growing traffic across the river. It has to pay $200,000 to construct the bridge plus $15,000 per year for its maintenance. Assuming that the bridge will have an infinite service life calculate the present worth of the project's total costs at a 10% interest rate.
Possible Answers
A. $201,500
B. $350,000
C. $280,000
D. $325,000
E. $215,000
with explanation please
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