How much is present value of total costs for project

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A county is considering building a temporary road to cut travel time during the two years it will take to build a permanent highway. The temporary road can be put up in the beginning of the project at a cost of $900,000. Total maintenance cost of the road at the end of each year would be $60,000 per year and the discount rate is 5%, how much is the present value of total costs for the project?

Reference no: EM131159474

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