a new baseball field has been opened on donated land. the initial investment cost for construction and landscaping is $3,500,000. Annual operational and maintenance cost are expected to be $62,000. Renovation of the facilities will be performed every 10 years at a cost of $335,000. There is no salvage value. The part is expected to have a perpetual life. Assume an interest of 9%

What is the total present cost for the park and its operation?

Please show all work and do NOT use excel.