A highway bridge is being considered for replacement. The new bridge would cost $X and would last for 16 years. Annual maintenance costs for the new bridge are estimated to be $23,000. People will be charged a toll of $0.25 per car to use the new bridge. Annual car traffic is estimated at 380,000 cars. The cost of collecting the toll consists of annual salaries for 4 collectors at $9,000 per collector. The existing bridge can be refurbished for $1,600,000 and would need to be replaced in 16 years. There would be additional refurbishing costs of $75,000 every five years and regular annual maintenance costs of $18,000 for the existing bridge. There would be no toll to use the refurbished bridge. If MARR is 15% per year, what is the maximum acceptable cost (X) of the new bridge?

A. The maximum acceptable cost of the new bridge is $1,921,527

B. The maximum acceptable cost of the new bridge is $ 2,200,926

C. The maximum acceptable cost of the new bridge is $1,420,925

D. The maximum acceptable cost of the new bridge is $1,557,872

E. The maximum acceptable cost of the new bridge is $1,986,574