. The purchased cost of 200000 inch3 stainless hemispherical tank in 1996 was RO 10700. If...

. The purchased cost of 200000 inch3 stainless hemispherical tank in 1996 was RO 10700. If the tank is covered fully with 2 inch thickness magnesia block, estimate the present total cost for installed and insulated tank. The cost for covering 2 inch magnesia was 5.1 RO per ft2 and installation labor cost 4.3 RO per ft2 .

Solutions

Expert Solution

I am submitting 2 solutions for the problem.

One with no change in cost index value and the other with change in the cost index value with time.

In the second one we can directly find the cost by just putting the respective cost index value.

If you have any doubts.. You can ask me in comment box.

Thanks

Amanda K answered 3 months ago

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