A proposed change to highway design standards is expected to reduce the number of vehicle crashes by 9,200 per year, but will have an initial cost of $150,000,000 and annual costs of $25,000,000. Given an interest rate of 10% and a study period of 8 years, the average cost of each vehicle crash in order that the benefit-to-cost ratio is 1.0 is _________________. Group of answer choices $9103 $6767 $5773 $8733

A proposed change to highway design standards is expected to reduce the number of vehicle crashes by 9,200 per year, but will have an initial cost of $150,000,000 and annual costs of $25,000,000. Given an interest rate of 10% and a study period of 8 years, the average cost of each vehicle crash in order that the benefit-to-cost ratio is 1.0 is _________________. Group of answer choices $9103 $6767 $5773 $8733

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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