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2(b). In 2008 a new 21- KW power substation was built in Tippecanoe county of Indiana for 1.4 million dollars. A neighboring county is

2(b). In 2008 a new 21- KW power substation was built in Tippecanoe county of Indiana for 1.4million dollars. A neighboring 

2(b). In 2008 a new 21- KW power substation was built in Tippecanoe county of Indiana for 1.4 million dollars. A neighboring county is planning on building a similar though smaller substation in 2011. An 18- KW substation is planned for this county. The inflation rate between 2009 and 2011 has averaged 1.5% per year. If the power sizing exponent is 0,85 for this type of facility what is the estimated cost of construction? (8 pts.)

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