EACH QUESTION WILL BE CHECKED AGAINST AI USAGE AS WELL AS PLAGIARISM SO DO NOT RELY ON THEM!

There is a river that experiences periodic flood damage. This happens almost every two years and results in a loss of $3 million. One option is to straighten and deepen the river, which will cost $3,4 million, to reduce the probable damage to not over $1,8 million for each occurrence during a period of 15 years before it would have to be deepened again. This would have $90 thousand of annual maintenance expenses. An alternative option is to construct a flood-control dam at a cost of $6,5 million. This alternative would have maintenance costs (annual) of $65 thousand. He estimates that this project would reduce the probable annual flood damage to not over $600 thousand. If this option is chosen irrigation water would produce annual revenue of $300 thousand. A third alternative is to build the dam and the river channel. The cost would be $9,9 million. Then, probable annual flood loss would be reduced to not over $250 thousand while providing the same irrigation and recreational benefits. If the cost of capital is worth 10%, determine the Benefit - Cost ratios and the incremental Benefit-Cost ratio. According to your findings please recommend which alternative should be adopted, one of the alternatives has to be chosen