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Stevens is considering a proposal to build a 50,000 -seat stadium on campus. The stadium may be construeted to full capacity now or be construeted

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Stevens is considering a proposal to build a 50,000 -seat stadium on campus. The stadium may be construeted to full capacity now or be construeted in two stages 25,000 sears now, and an additional 25,000 seats n years from now. Assume that both options will have a useful life of 35 years and a salvake value of zero, regardless of when the second stage is completed. Both options will have identical O\&eM costs. Given a project MARR of 12%, in what year would the two projects be equivalent to each other? Answers musr include a minimum of mo places beyond the decimal to receive full credit

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