In January of 2015, the appropriate construction cost index had a value of $5,260. In January of 2005, the value was $2,746. In January 2010 you received a bid for a structure of 7.25 million. Another building (virtually identical) is planned for a bid opening in January 2020. Estimate the new building bid.

Choices are:

13.89 million

19.22 million

11.18 million