A road includes dangerous geometric features for high speed travel which limit the travel speed on...

A road includes dangerous geometric features for high speed travel which limit the travel speed on the highway in this area. Among alternatives, it is proposed to upgrade the road so that travel speed may be increased. The upgrade will cost initially $ 38,500,000 and the annual maintenance cost is 800,000 $. It will result in: 10 minutes reduction in travel time for the average running vehicle. The estimated time cost is $3.5/hr.  Decrease in the number of accidents by an average of 1.5 per day. The estimated average cost per accident is $ 5000.  Reduction in the average running cost per vehicle by $ 0.15 per day. For a project life of 30 years and money rate of 4%, what is economic feasibility of this project if the average daily traffic is 3500?

Expert Solution

Ally Wells answered 10 months ago

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