An outer belt highway is being planned for a metropolitan area in Tennessee. The initial cost is

estimated to be $$240,000,000.$ Benefits to the public are expected to be $$28,000,000$ per year. Maintenance

costs are estimated at $$2,200,000$ per year. The beltway will have to be resurfaced every $8$ years at a cost of

$$9,500,000.$ The road is to be maintained indefinitely. The city$$s cost of funds is $10\%.$

Based on maintaining the road in perpetuity, find the conventional benefit$-$cost ratio. Show your calculations in

the space below.