For the data in Problem 16-2 (problem 2 on this homework) calculate the expected value of the equivalent uniform annual construction cost per mile. Problem 2 is as follows:

A road between Fairbanks and Nome, Alaska will have a most likely construction cost of $4 million per mile. Doubling this cost is considered to have a probability of 30%, and cutting the cost by 25% is considered to have a probability of 10%. The state's interest rate is 8% and the road should last 40 years. What is the probability distribution of the equivalent uniform annual construction cost per mile