> D- A city needs a new pedestrian bridge over a local stream. The city uses an interest rate of 5%, and the project 94 life is 30 years. The following data (in millions of dollars) summarizes the bids that were received. Bid A Bid B Construction materials costs $4.20 $6.20 Construction labor costs 0.60 0.70 Construction overhead costs 0.35 0.03 Initial administrative and legal costs 0.60 0.01 Annual operating costs 0.05 0.075 Annual revenue from operation Unknown 0.40 Other annual benefits to the city 0.22 0.25 What would the annual revenue of Bid A have to be for the two projects to be equivalent? Choose the closest value. (a) 0.10 (b) 0.20 (c) 0.30 (d) 0.40 > D- A city needs a new pedestrian bridge over a local stream. The city uses an interest rate of 5%, and the project 94 life is 30 years. The following data (in millions of dollars) summarizes the bids that were received. Bid A Bid B Construction materials costs $4.20 $6.20 Construction labor costs 0.60 0.70 Construction overhead costs 0.35 0.03 Initial administrative and legal costs 0.60 0.01 Annual operating costs 0.05 0.075 Annual revenue from operation Unknown 0.40 Other annual benefits to the city 0.22 0.25 What would the annual revenue of Bid A have to be for the two projects to be equivalent? Choose the closest value. (a) 0.10 (b) 0.20 (c) 0.30 (d) 0.40