Thanks to a new federal program that will provide 50% matching funds, a city with high unemployment has decided to build a new municipal park for city residents if it the net present value is positive. You have been hired to conduct a study to determine if the park can pass the test. Discuss how you will handle the issues listed below.

- how to treat the federal government's matching funds

- determining the cost of labour used in the project

- how to measure the benefits of the park using a hedonic pricing approach