A reconstruction project of a 10-mile 4-lane concrete highway is proposed for next year. The initial cost per lane-mile is estimated to be $271000 with zero salvage value at the end of its service life of 30 years. The annual maintenance cost is expected to be $2710 per lane-mile. For a discount rate of 5.3%, compute the equivalent uniform annual cost.
A reconstruction project of a 10-mile 4-lane concrete highway is proposed for next year. The initial cost per lane-mile is estimated to be $271000 with zero salvage value at the end of its service life of 30 years. The annual maintenance cost is expected to be $2710 per lane-mile. For a discount rate of 5.3%, compute the equivalent uniform annual cost.
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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Question
A reconstruction project of a 10-mile 4-lane concrete highway is proposed for next year. The initial cost per lane-mile is estimated to be $271000 with zero salvage value at the end of its service life of 30 years. The annual maintenance cost is expected to be $2710 per lane-mile. For a discount rate of 5.3%, compute the equivalent uniform annual cost.
Expert Solution
Step 1
Given:
No. of lane = 4
The initial cost per lane-mile, A = $271000
Service life, n = 30 years
Salvage value at the end of service life, S = 0
Annual maintenance cost per lane-mile, B = $2710
Interest rate, r = 0
Discount rate = 5.3%
To find:
The equivalent uniform annual cost for a discount rate of 5.3%
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