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
$ comma
initial capital investment The city engineer has collected the following financial information for the complex project:
bullet
Annual upkeep costs:
$ comma
bullet
Annual utility costs:
$ comma
bullet
Renovation costs:
$ comma
for every
sevenseven
years
bullet
Annual team user feesrevenues:
$ comma
bullet
Useful life: Infinite
bullet
Interest rate:
If the city can expect
comma
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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