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A small dam is being planned for a river tributary that is subject to frequent flooding. From past experience, the probabilities that water flow will
A small dam is being planned for a river tributary that is subject to frequent flooding. From past experience, the probabilities that water flow will exceed the design capacity of the dam during a year, plus relevant cost information, are as follows: The life of the dam is expected to be 57 years, with negligible salvage value. The capital will cost 8 degree % per year, compounded semi annually. Determine which design should be implemented
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