A landfill has a first cost of \($270,000.\) Annual operating and maintenance costs for the first year will be \($40,000.

These\) costs will increase at 11 percent annually. Income for dumping rights at the landfill will be held fixed at \($120,000\) per year. The landfill will be operating for 10 years. Inflation will average 4.5 percent, and a real return of 3.6 percent is desired. What is the present worth of this project using

a. a then-current analysis?

b. a constant-worth analysis?