An asphalt road requires a yearly maintenance beginning a year from now. For the 1^st four years, it will be P 570,535 per year. For the next four years, it will be P 806,975 per year. On the succeeding four years, it will be 1,097,947 per year. If interest is 20% cpd. annually, what is the present value of the repair cost?

Transcribed image text: Question 5 20 points Save Answer An asphalt road requires a yearly maintenance beginning a year from now. For the 1st four years, it will be P 570,535 per year. For the next four years, it will be P 806,975 per year. On the succeeding four years, it will be 1,097,947 per year. If interest is 20% cpd. annually, what is the present value of the repair cost