Highwind Airport is proposing a $1 billion expansion of its airport located in a city named Gaia. The expansion will double current flight capacity, increasing international and domestic travel to this popular tourist destination. The expansion requires acquisition of the land of a neighbouring golf course. The golf course has been in operation for more than a century and has a loyal local customer base. The Gaia City Council has also proposed acquiring the golf course for housing development to address current and projected housing shortages. Additionally, environmental activists have voiced concerns that this expansion goes against addressing the climate emergency, as more flights would lead to higher levels of carbon emissions emitted into the atmosphere. Information about the proposed project is as follows: Initial investment in the following is required: land acquisition ($220 million), additional planes ($480 million), runway construction ($130 million), and additional machines and equipment ($170 million). There will be additional operating expenditure of $20 million per year. Incremental revenue of $180 million per year is expected. Depreciation is projected to increase by $25 per year due to additional investment in long-term assets. The additional long-term assets acquired for this proposal will require major maintenance at the end of every nine years, which is expected to cost a total of $30 million each time the maintenance is performed. Highwind Airport requires a rate of return of 10%. Assume a time horizon of 20 years. Ignore tax implications. Required: