Use the following information to answer questions 45-47 [The following information applies to the questions displayed below. ] Washington County's Board of Representatives is considering the construction of a longer runway at the county airport. Currently, the airport can handle only private aircraft and small commuterjets. A new, long runway would enable the airport to handle the midsize jets used on many domestic flights. Data pertinent to the board's decision appear below. Cost of acquiring additional land for runway $ 75,666 Cost of runway construction 355,666 Cost of extending perimeter fence 23,158 Cost of runway lights 46,666 Annual cost of maintaining new runway 26,666 Annual incremental revenue From landing fees 45,666 In addition to the preceding data, two other facts are relevant to the decision. First, a longer runway will require a new snowplow, which will cost $155,000. The old snowplow could be sold how for $15,500. The new, larger plow will cost $13,000 more in annual operating costs. Second, the County Board of Representatives believes that the proposed long runway, and the majorjet service it will bring to the county, will increase economic activity in the community. The board projects that the increased economic activity will result in $66,000 per year in additional tax revenue for the county. In analyzing the runway proposal, the board has decided to use a 10year time horizon. The county's hurdle rate for capital projects is 12 percent. Prepare a netpresent-value analysis of the proposed long runway. (Round your "Annuity discount factor" to 3 decimal places. Amounts to be deducted should be indicated by a minus sign.) Annual incremental benet Annuity discount factor Present value of annual benets Initial costs: Net present value $ 0