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7. The City of Aubum has decided to build a softball complex and the city council has already voted to fund the project at the level of $800,000 (initial capital investment). The city engineer has collected the following financial information for the complex project. Annual upkeep costs: $120,000 Annual utility costs: $13,000 Renovation costs: $50,000 for every 5 years Annual team user fees (revenues): $32,000 Useful life: Infinite Interest rate: 89% If the city can expect 40,000 visitors to the complex each year, what should be the minimum ticket price per person so that the city can breakeven? In answering the question, identify the range that contains the solution. A. Price: greater than $2.50 and less or equal $3.00 B. Price: greater than $3.00 and less or equal $3.50 C. Price: greater than $3.50 and less or equal $4.00 Prino: gronter than $4.00 and lore ogual SA 50

7. The City of Aubum has decided to build a softball complex and the city council has already voted to fund the project at the level of $800,000 (initial capital investment). The city engineer has collected the following financial information for the complex project. Annual upkeep costs: $120,000 Annual utility costs: $13,000 Renovation costs: $50,000 for every 5 years Annual team user fees (revenues): $32,000 Useful life: Infinite Interest rate: 89% If the city can expect 40,000 visitors to the complex each year, what should be the minimum ticket price per person so that the city can breakeven? In answering the question, identify the range that contains the solution. A. Price: greater than $2.50 and less or equal $3.00 B. Price: greater than $3.00 and less or equal $3.50 C. Price: greater than $3.50 and less or equal $4.00 Prino: gronter than $4.00 and lore ogual SA 50

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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7. The City of Aubum has decided to build a softball complex and the city council has already voted to fund the project at the level of $800,000 (initial capital investment). The city engineer has collected the following financial information for the complex project. Annual upkeep costs: $120,000 Annual utility costs: $13,000 Renovation costs: $50,000 for every 5 years Annual team user fees (revenues): $32,000 Useful life: Infinite Interest rate: 8% If the city can expect 40,000 visitors to the complex each year, what should be the minimum ticket price per person so that the city can breakeven? In answering the question, identify the range that contains the solution. A. Price: greater than $2.50 and less or equal $3.00 Price: greater than $3.00 and less or equal $3.50 Price: greater than $3.50 and less or equal $4.00 Price: greater than $4.00 and less or equal $4.50 В. C. D.
Transcribed Image Text:7. The City of Aubum has decided to build a softball complex and the city council has already voted to fund the project at the level of $800,000 (initial capital investment). The city engineer has collected the following financial information for the complex project. Annual upkeep costs: $120,000 Annual utility costs: $13,000 Renovation costs: $50,000 for every 5 years Annual team user fees (revenues): $32,000 Useful life: Infinite Interest rate: 8% If the city can expect 40,000 visitors to the complex each year, what should be the minimum ticket price per person so that the city can breakeven? In answering the question, identify the range that contains the solution. A. Price: greater than $2.50 and less or equal $3.00 Price: greater than $3.00 and less or equal $3.50 Price: greater than $3.50 and less or equal $4.00 Price: greater than $4.00 and less or equal $4.50 В. C. D.
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