QUESTION 2 The City Council in a southwestern city is considering the construction of permanent restrooms in 22 of its smaller parks Gie, parks less than 12 acres) or pay for portable tollets on a year-round basis. The cost of constructing the 22 permanent restrooms will be $38 million. The 22 portable restrooms can be rented for $7500 each the first year with rental cost increases of $25 per portable per year for a maximum contract period of 10 years. The service life of a permanent restroom is 20 years. Using an interest rate of 6% per yepir determine the equivalent annual cost of constructing the permanent restrooms -165000