13 10a highway project is expected to cost 1700000 initially the annua
13-10A highway project is expected to cost $1,700,000 initially. The annual operating and maintenance cost after the first year is $5000 and will increase by $500 each year for a project lifespan of 20 years. At the end of the tenth year, the project must be resurfacedat a cost of $300,000. (a) Calculate the present worth of costs for this project over a 20-year period if the annual interest rate is 5 percent. (b) Convert the value obtained in (a) to equivalent uniform annual costs.
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