the busy 4 lane 10 mile 1 999 highway that bypasses the congested city
The busy 4-lane, 10-mile 1-999 highway that bypasses the congested city of Chicago is up for some upgrading work. The first option is to reconstruct the pavement at an agency cost of$1.5M/lane-mile and work zone user cost of $5M. This will give the pavement a service life of 40 years with an estimated $50K/lane-mile in annual maintenance costs to the agency, and an annual user cost (vehicle operation, safety, delay, inventory) of $100K. The second option is to resurface the pavement at an agency cost of $0.4M/lane-mile and workzone user cost of $1M. This will give the pavement an additional life of 20 years with an estimated $70K/lane-mile in annual maintenance costs to the agency, and an annual user cost (vehicle operation, safety,delay, inventory) of $120K. Which option will be more economically efficient? Assume 4% interestrate. Use the EUAR as your yardstick for comparison.
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