Question: A city has decided to build a softball complex, and the city council has already voted to fund the project at the level of $

A city has decided to build a softball complex, and the city council has already voted to fund the project at the level of
$770 comma 000770,000
(initial capital investment). The city engineer has collected the following financial information for the complex project:
bullet
Annual upkeep costs:
$130 comma 000130,000
bullet
Annual utility costs:
$15 comma 00015,000
bullet
Renovation costs:
$46 comma 00046,000
for every
sevenseven
years
bullet
Annual team user fees(revenues):
$33 comma 00033,000
bullet
Useful life: Infinite
bullet
Interest rate:
1010%
If the city can expect
41 comma 00041,000
visitors to the complex each year, what should be the minimum ticket price per person so that the city can break even?

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