solve in 20 minutes i will give upvote

Question 8 (7 points) New Orleans (NOLA) city council would like to implement a new drainage pumping system to protect the city from major floods. The systein requires an investment of $50 million today and $100,000 operating and maintenance expenses each month indefinitely (forever). What would be the total cost of the new system to the city in today's dollars if NOLA's interest rate is known as 3% annually? (7 points)