3. (Spreadsheet recommended) Your municipality is considering building a public swimming pool. Analysts have estimated the present values of the following effects over the expected useful life of the pool: P V (million dollars) National government grant 2.2 Construction and maintenance costs 12.5 Personnel costs 8.2 Revenue from municipal residents 8.6 Revenue from non-residents 2.2 Use value benet to municipal residents 16.6 Use value benet to non-residents 3.1 Scrap value 0.3 The national government grant is only available for this purpose. Also, the construction and maintenance will have to be done by a non-municipal rm. a. Assuming national-level standing, what is the net social benet of the project? b. Assuming municipal-level standing, what is the net social benet of the project? Municipal Swimming Pool Monetized Effect Social CBA Social CBA Category [million dollars] National Standing Municipal Standing National government grant 2.2 Construction and maintenance costs 125 Personnel costs 8.2 Revenue from municipal residents 88 Revenue from nonresidents 2.2 Use value to municipal residents 18.8 Use value to nonresidents 3.1 Scrap value 8.8 Net Benets [million dollars]