Calculate the Modified B/C ratio for the estimates shown in the table below at a discount rate of 8% per year.

PW of benefits, $	4,800,000
AW of disbenefits, $/year	65,000
First cost, $	1,200,000
M&O costs, $/year	300,000
Life of the project, years	20

**The answers presented below were calculated using the appropriate factors from interest tables including all their decimal places**

Question options:

	Modified B/C= 2.08
	Modified B/C= 5.92
	Modified B/C= 1.01
	Modified B/C= 3.69