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As a recreational planner, you determine a proposed new state park will cost approximately $2.5 million to develop (the $2.5 million is the present value

As a recreational planner, you determine a proposed new state park will cost approximately $2.5 million to develop (the $2.5 million is the present value of the park development costs). The park will open one year after it is developed. You estimate it will attract visitors annually over the next 20 years. State law requires a minimum of 5% return on any investment of state funds. What minimum amount of annual user fee income is needed in order to justify this park investment?

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