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Orlando has outgrown its Citrus Bowl stadium and has not been invited to host the...

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Accounting

Orlando has outgrown its Citrus Bowl stadium and has not been invited to host the best of College Football Championship games because of it.

If a public works project (a very long term commitment) was planned in Orlando to construct a new, permanent football stadium, and its initial cost was $900M.

The new stadium yearly maintenance cost was $1M/year for years 1-10, growing to $2M/year thereafter.

The new stadium required repainting every 10 years at a cost of $2.5M

The new stadium required a new grass surface every 5 years at a cost of $3M, and

The new stadium had a one time Bond payment cost of $15M in year 30.

q1)What is the Present Worth cost of this permanent project if city money is available to be borrowed at 6%?

q2)What is the Annual amount/year Orlando will be committed to?

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