A newly constructed bridge costs $5,000,000. The same bridge is estimated to need renovation every...
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Accounting
A newly constructed bridge costs $5,000,000. The same bridge is estimated to need renovation every 15 years at a cost of $1,000,000. Annual repairs and maintenance are estimated to be $100,000 per year. If the interest rate is 5%, determine the capitalized worth (CW) of the bridge.
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