A permanent flood control dam is expected to have an initial cost of $2.8 million and an annual upkeep cost of $20,000. In addition, minor reconstruction will be required every 5 years at a cost of $200,000. As a result of the dam, flood damage will be reduced by an average of $180,000 per year. Using an interest rate of 6% per year, the conventional B/C ratio will be closest to:

a. 0.46

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b. 0.81

c. 0.97

d. 1.06

The four mutually exclusive alternatives shown on the next page are compared using the B/C method. The alternative to select is:

a. J

b. K

c. L

d. M

If the market interest rate is 16% per year when the inflation rate is 9% per year, the real interest rate is closest to:

a. 6.4%

b. 7.3%

c. 9.4%

d. 16.1%

The cost of an F-150 pick-up truck was $29,350 three years ago. If the cost increased only by the inflation rate and the price today is $33,015, the inflation rate was closest to:

a. 3%

b. 4%

c. 5%

d. 6%

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