Question 9 (14 points) A construction project consists of 16 identical houses. The labor cost of the first unit is $25,000, and a learning curve of 85% applies to the time to build each unit, which is six (6) months. Note that labor costs are tied directly to time--if $25,000/unit is done in 6 months, then $12,500/unit would be for finishing a unit in 3 months. Your company wants to get a loan for the total labor costs, up front, at the start of the project for all of the homes to be built. a. Calculate how much the loan would be at time=0 if you built all the homes at the same time. Should be pretty obvious but do that calculation anyway. b. Determine the time in months the last home is finished if you built all the homes in series, assuming the learning curve. c. Calculate how much the loan amount would be if you built all the homes in series, assuming the learning curve reduces each home's time to complete (and thus labor costs) for each successive home. d. How much less is the loan if the homes are to be built serially versus all at once? Give answer to nearest dollar. Clearly state the answers for a, b, c for this question. Also, upload your supporting calculations Question 9 (14 points) A construction project consists of 16 identical houses. The labor cost of the first unit is $25,000, and a learning curve of 85% applies to the time to build each unit, which is six (6) months. Note that labor costs are tied directly to time--if $25,000/unit is done in 6 months, then $12,500/unit would be for finishing a unit in 3 months. Your company wants to get a loan for the total labor costs, up front, at the start of the project for all of the homes to be built. a. Calculate how much the loan would be at time=0 if you built all the homes at the same time. Should be pretty obvious but do that calculation anyway. b. Determine the time in months the last home is finished if you built all the homes in series, assuming the learning curve. c. Calculate how much the loan amount would be if you built all the homes in series, assuming the learning curve reduces each home's time to complete (and thus labor costs) for each successive home. d. How much less is the loan if the homes are to be built serially versus all at once? Give answer to nearest dollar. Clearly state the answers for a, b, c for this question. Also, upload your supporting calculations