Washington County's Board of Representatives is contsidering the construct on of a longer runwhal cht the county airport Currently, the airport can handle only private airculaft and small commuterluts. A now, long runway would enable the aipon to handle the midsize jets used on many domestic flights. Data plertinent to the boudril deolis or appear below. In addition to the preceding data, two other facts are relevant to the decision. First, a longer runway will reguire a new snowplow, which cost $105,000. The od snowplow could be sold now for $10,500. The new, larger plow will cost $6,000 more in annuat operating costs. Second, the County Board of Representat ves believes that the proposed long runway, and the major jet service it willbing to the county, will increase economic activity in the community The board projects that the increased economic activity will result in $68,000 per year in acditional tax revenue for the county In analyzing the runway proposa, the board has decided to use a 10-year time horizon. The county's hurdle rate for capital projects is 12 percent. Use Append foryourreference. (Use oppropriate factor(s) from the tables provided.) Problem 16-45 internal Rate of Return; Even Cash Flows (Section 1) (LO 16-1, 16-3) Required: 1. Compute the initial cost of the investment in the long runway. 2. Compute the annual net cost or benefit from the runway 3-a. Determine the IRR on the proposed long runway. 3-b. Should it be built considering IRR? Complete this question by entering your answers in the tabs below. Compute the initial cost of the investment in the long runway. 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 \$105,000. The old snowplow could be sold now for $10,500. The new, larger plow will cost $6,000 more in annual operating costs. Second, the County Board of Representatives believes that the proposed long runway, and the major jet 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 $68.000 per year in additional tax revenue for the county. In analyzing the runway proposal, the board has decided to use a 10 -year time horizon. The county's hurdle rate for capital projects is 12 percent. Use Appendix A for your reference. (Use appropriate factor(s) from the tables provided.) Problem 16-45 Internal Rate of Return; Even Cash Flows (Section 1) (LO 16-1, 16-3) Recuired: 1. Compute the initial cost of the investment in the long runway. 2. Compute the annual net cost or benefit from the runway. 3-e. Determine the IRR on the proposed long runway. 3.b. Should it be built considering IRR? Complete this question by entering your answers in the tabs below. Compute the annual net cost or benefit from the runway. 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 \$105,000. The old snowplow could be sold now for $10,500. The new, larger plow will cost $6,000 more in annual operating costs. Second, the County Board of Representatives believes that the proposed long runway, and the major jet 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 $68,000 per year in additional tax revenue for the county. In analyzing the runway proposal, the board has decided to use a 10-year time horizon. The county's hurdle rate for capital projects is 12 percent. Use Appendix A for your reference. (Use appropriate factor(s) from the tables provided.) Problem 16-45 Internal Rate of Return; Even Cash Flows (Section 1) (LO 16-1, 16-3) Required: 1. Compute the initial cost of the investment in the long runway. 2. Compute the annual net cost or benefit from the runway. 3-2. Determine the IRR on the proposed long runway. 3.b. Should it be built considering IRR? Complete this question by entering your answers in the tabs below. Determine the IRR on the proposed long runway. (Round your answer to the nearest whole percent.) 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 $105,000. The old snowplow could be sold now for $10,500. The new, larger plow will cost $6,000 more in annual operating costs. Second, the County Board of Representatives believes that the proposed long runway, and the major jet 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 $68,000 per year in additional tax revenue for the county. In analyzing the runway proposal, the board has decided to use a 10 -year time horizon. The county's hurdle rate for capital projects is 12 percent. Use Appendix A for your reference. (Use appropriate factor(s) from the tables provided.) Problem 16-45 Internal Rate of Return; Even Cash Flows (Section 1) (LO 16-1, 16-3) Required: 1. Compute the initial cost of the investment in the long runway. 2. Compute the annual net cost or benefit from the runway. 3-s. Determine the IRR on the proposed long runway. 3-b. Should it be built considering IRR? Complete this question by entering your answers in the tabs below. Should it be built considering IRR