A regional municipality is studying a water supply plan for its tri-city and surrounding area to the end of year 2080. To satisfy the water demand, one suggestion is to construct a pipeline from a major lake some distance away. Construction would start at the beginning of 2030 and take five years at a cost of $20 million per year. The cost of maintenance and repairs starts after completion of construction and for the first year is $2 million, increasing by 1 percent per year thereafter. At an interest rate of 8 percent, what is the present worth of this project? Assume all cash flows take place at year-end. Consider the present to be the end of 2025/beginning of 2026. Assume there is no salvage value at the end of year 2080. Click the icon to view the table of compound interest factors for discrete compounding periods when i = 8%. The present worth of this project is $ million. (Round to two decimal places as needed.) i = 8% Discrete Compounding, Discrete Cash Flows Single Payment Uniform Series Arithmetic Compound Present Sinking Uniform Capital Series Gradient Amount Worth Fund Series Recovery Present Series Factor Factor Factor Factor Factor Worth Factor Factor N (F/P,i,N) (P/F,I,N) (A/F,I,N) (F/A,I,N) (A/P,I,N) (P/A,i,N) (A/G,I,N) 1 1.0800 0.92593 1.0000 1.0000 1.0800 0.92593 0.00000 10 2345 67890 1.1664 0.85734 0.48077 2.0800 0.56077 1.7833 0.48077 1.2597 0.79383 0.30803 3.2464 0.38803 2.5771 0.94874 1.3605 0.73503 0.22192 4.5061 0.30192 3.3121 1.4040 1.4693 0.68058 0.17046 5.8666 0.25046 3.9927 1.8465 1.5869 0.63017 0.13632 7.3359 0.21632 4.6229 2.2763 1.7138 0.58349 0.11207 8.9228 0.19207 5.2064 2.6937 1.8509 0.54027 0.09401 10.637 0.17401 5.7466 3.0985 1.9990 0.50025 0.08008 12.488 0.16008 6.2469 3.4910 2.1589 0.46319 0.06903 14.487 0.14903 6.7101 3.8713 100 1234567822 22222 22222 353 3485 8ORK 22858 11 2.3316 0.42888 0.06008 16.645 0.14008 7.1390 4.2395 2.5182 0.39711 0.05270 18.977 0.13270 7.5361 4.5957 2.7196 0.36770 0.04652 21.495 0.12652 7.9038 4.9402 2.9372 0.34046 0.04130 24.215 0.12130 8.2442 5.2731 3.1722 0.31524 0.03683 27.152 0.11683 8.5595 5.5945 3.4259 0.29189 0.03298 30.324 0.11298 8.8514 5.9046 3.7000 0.27027 0.02963 33.750 0.10963 9.1216 6.2037 3.9960 0.25025 0.02670 37.450 0.10670 9.3719 6.4920 19 4.3157 0.23171 0.02413 41.446 0.10413 9.6036 6.7697 20 4.6610 0.21455 0.02185 45.762 0.10185 9.8181 7.0369 21 5.0338 0.19866 0.01983 50.423 0.09983 10.017 7.2940 5.4365 0.18394 0.01803 55.457 0.09803 10.201 7.5412 23 5.8715 0.17032 0.01642 60.893 0.09642 10.371 7.7786 24 6.3412 0.15770 0.01498 66.765 0.09498 10.529 8.0066 25 6.8485 0.14602 0.01368 73.106 0.09368 10.675 8.2254 26 7.3964 0.13520 0.01251 79.954 0.09251 10.810 8.4352 27 7.9881 0.12519 0.01145 87.351 0.09145 10.935 8.6363 28 8.6271 0.11591 0.01049 95.339 0.09049 11.051 8.8289 29 9.3173 0.10733 0.00962 103.97 0.08962 11.158 9.0133 30 10.063 0.09938 0.00883 113.28 0.08883 11.258 9.1897 31 10.868 0.09202 0.00811 123.35 0.08811 11.350 9.3584 32 11.737 0.08520 0.00745 134.21 0.08745 11.435 9.5197 12.676 0.07889 0.00685 145.95 0.08685 11.514 9.6737 34 13.690 0.07305 0.00630 158.63 0.08630 11.587 9.8208 14.785 0.06763 0.00580 172.32 0.08580 11.655 9.9611 40 21.725 0.04603 0.00386 259.06 0.08386 11.925 10.570 31.920 0.03133 0.00259 386.51 0.08259 12.108 11.045 50 46.902 0.02132 0.00174 573.77 0.08174 12.233 11.411 55 68.914 0.01451 0.00118 848.92 0.08118 12.319 11.690 60 101.26 0.00988 0.00080 1253.2 0.08080 12.377 11.902 65 148.78 0.00672 0.00054 1847.2 0.08054 12.416 12.060 70 218.61 0.00457 0.00037 2720.1 0.08037 12.443 12.178 75 321.20 0.00311 0.00025 4002.6 0.08025 12.461 12.266 80 471.95 0.00212 0.00017 5886.9 0.08017 12.474 12.330 693.46 0.00144 0.00012 8655.7 0.08012 12.482 12.377 90 1018.9 0.00098 0.00008 12724.0 0.08008 12.488 12.412 95 1497.1 0.00067 0.00005 18702.0 0.08005 12.492 12.437 2199.8 0.00045 0.00004 27485.0 0.08004 12.494 12.455