A Canadan city approved bulding Rapid Transit (ION) to provide greater transportation choice for residents. Here are sorne estimates of cash flows, and other information, for the plan. First cost in year O: Annual cost: $7,000 ,000 in year 1 , ticreastlg by 2% per year Major technology upgrades: every five years, starting seven years from now MARR= 16.05% Number of passengers per year = 11,000, 000 use per year (110,000 passengers ustig it on average for 100 times per year). Calculate the levelized cost for each ticket The levelized cost for each ticket is (Round to the nearest cent as needed.)