Kankakee County plans to build a sports center that costs $1,200,000 in the beginning and intends to operate it indefinitely. The center's O&M costs are $50,000 per year. At the end of the 10th year, the center requires an expansion costing $200,000. As an alternative, the county considers an outdoor water park that results in the net present cost of $600,000 assuming it operate indefinitely. Compute the net present cost of the sports center project. If the county must choose at least one option, which option is the more economical? Assume both options raise the same amount of revenue and the interest rate is 10% compounded yearly. [Show all factor notations involved in the calculation.]