Using the current speci?cations, resurfacing a road will cost $1.5M initially, need $120K in annual maintenance, and need to be resurfaced every 10years. A proposed new speci?cation is expected to be more resistant to wear. The resurfacing cost will be $2.1M with $90K in annual maintenance and resurfacing every 15 years.

( a ) Develop a choice table for interest rates from 0%to 25%.

( b ) If the highway department