A consultant, after 3 months of work, reported that the modified B/C ratio for a city-owned hospital heliport project is 1.7. If the initial cost is $2.1 million and the annual benefits are $195,000, what is the amount of the annual M&O costs used in the calculation? The report stated that a discount rate of 7% per year and an estimated life of 45 years were used. The M&O cost is $ 67395

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A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.