A transportation agency can construct a project that will reduce crash counts & severities, on average. The project has an initial price tag of $2.8M and a required annual maintenance of $55,000 over an expected project life of 15 years. Current crash costs are estimated to be $1.9M per year in the first year if nothing is done, and will rise by 3% annually. If a 3.5% discount rate is assumed and only safety benefits are considered, what is the minimum percentage crash reduction needed to make this project worthwhile? (Assume that the initial costs are spent immediately, and all crash reduction benefits and maintenance costs are realized at the end of each year.) If the discount rate is changed to 8%, what is the new minimum crash reduction rate to ensure an NPV at least $2M? What is the B/C ratio in this case?