The city of Springmeadows is well known for its mountain biking trails. However, because mountain biking is a little dangerous there are often accidents. The government of Springmeadows is considering improving the safety of the trails. The cost of the safety improvements will be $1.82 million (t = 0). The average medical cost per accident is $19,000. The statistics for accidents are in the table below. Since the safety improvements will take one year, the current statistics will continue fort = 0 and the new statistics will start att=1 Number of Accidents per Probability Current year 15 30 45 0.1 0.18 0.25 0.3 0.12 0.05 Number of Probability after Accidents per Safety year Improvements 15 0.24 30 0.3 45 0.2 60 0.14 75 0.09 90 0.03 60 75 90 Use a 4% discount rate and a 40 year timeline (t = 0,..., 39) to calculate the net present value of the project