QUESTION 2 [25 MARKS] (a) In 2012, a water treatment plant was built at Semambu, Pahang with a total construction cost of RM2,000,000. Details costs involved in the construction process is given in Table 2. As a new intern in a construction firm, you are given task to estimate the cost for a new water treatment plant using previous data. All formula and calculations must be clearly stated. Table 2 Cost Element Average Percentage of Cost Index (2012) Index (2022) Labor 25 160 200 Concrete and 20 125 175 steel materials Equipment 55 110 162 [7 Marks]