The B/C ratio for a flood control project along the Swanee River was calculated to be 1.5.
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Question:
The B/C ratio for a flood control project along the Swanee River was calculated to be 1.5. If the benefits were $450,000 per year and the maintenance costs were $241,000 per year, determine the initial cost of the project at an interest rate of 8% per year and a 50-year life.
The initial cost of the project is $
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