You often drive the 142 miles between Potsdam and Syracuse. You can make this trip in one of two ways:

a. You drive at the posted speed limits and never tailgate trucks. The trip takes you 3 hours. Your risk of death is 1 in 100,000 (0.00001), and you consume 5 gallons of gasoline.

b. You tailgate a truck traveling above the posted speed limit, following him at a distance of 10 ft. Your risk of death is 5 in 100,000 (0.00005). The trip takes 2.5 hours and you consume 4 gallons of gasoline.

Gasoline costs $2.25 per gallon and you value your time at $20/hour. What is the cost of making the trip using each method? If you choose the method (b), what is your implied Value of a Statistical Life?