Question
In: Economics
A new aerated sewage lagoon is required in a small town in 2020. In 2015, one...
A new aerated sewage lagoon is required in a small town in 2020. In 2015, one was built on a similar site in a nearby city for $3 million.The new lagoon is 75% larger, and its power sizing exponent is 0.90. The cost index for 2015 is 180, whereas the one in 2020 is 400. Estimate the cost of new lagoon in 2020.
Solutions
Expert Solution
Real Cost of new =Real cost of old*(size of new/size of old)^n where n is power sizing exponent
So, Real cost of new lagoon=$3,000,000*(1.75)^0.9=$4,964,271.2
Nominal cost=(new cost index/Base cost index)* Real cost=400/180*4,964,271.2=$11,031,713.8 or ~$11mm
Rahul Sunny answered 2 years agoRelated Solutions
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