Question: A new highway will take 2 years to construct. User benefits of $7 million (or M) per year will start in year 3. Beginning in

A new highway will take 2 years to construct. User benefits of $7 million (or M) per year will start in year 3. Beginning in year 5, user benefits will increase by $1M per year. What is the present worth of the benefits over 20 years if i = 6%?

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