2. The following flood protection data is given: Flood control Flood Control Cost $1,000s Flood Probability Flood Damage Cost S1000s Do nothing (exisiting dyke Replace with a 10 ft steel wall 2,000 3,200 5,000 1/8 1/10 1/25 1/100 2,000 500 250 100 Replace with a 12 ft concrete wall Replace with a 14 ft concrete wall Decide on the alternative that minimizes the overall construction and flood damage cost. These walls have a 25 year life and the rate is 2.5% per year