Question: 3) Maintenance costs on a bridge are $5,000 every five years starting at the end of year 5. For analysis purposes, the bridge is assumed

3) Maintenance costs on a bridge are $5,000 every five years starting at the end of year 5. For analysis purposes, the bridge is assumed to have an infinite life. What is the Capitalized Equivalent (CE) cost of these infinite payments, assuming an annual interest rate of 7% compounded annually?Answer___________________

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