What is the present value of costs for a 30-year project that has annual maintenance costs of $1.4 million per year, but also requires additional major maintenance costing $9 million every ten years?

You may assume major maintenance is needed after 10 years and 20 years but not after 30 years (at the end of the project). Assume a discount rate of 9% and that all costs are incurred at the end each year.

Enter your answer in units of million $.

Question 3 2 pts What is the present value of costs for a 30-year project that has annual maintenance costs of $1.4 million per year, but also requires additional major maintenance costing $9 million every ten years? You may assume major maintenance is needed after 10 years and 20 years but not after 30 years (at the end of the project). Assume a discount rate of 9% and that all costs are incurred at the end each year. Enter your answer in the box below in units of million $