Question $1$: ChoiceBetweenAlternativesPro$\_$Spring$25\_$WS$6\_$Q$1$

Your city is planning a stormwater drainage improvement project to mitigate flooding in residential and commercial areas, which has a construction cost due at the end of the first year of $\backslash (\backslash$$ $8\backslash )$ million, second year of $\backslash (\backslash$$ $5\backslash )$ million, and third year of $\backslash (\backslash$$ $3\backslash )$ million. It is completed at the end of the third year and thereafter incurs an annual operating cost of $\backslash (\backslash$$ $386000\backslash )$ per year $($due at the end of each year$).$ Benefits from the project, such as traffic delay reduction and safety improvements, also begin during the fourth year and are valued at $\backslash (\backslash$$ $2\mathrm{.}3\backslash )$ million available at the end of that year, growing at a $\backslash (2\mathrm{.}7\backslash \%\backslash )$ compound rate of increase out to the service life $($analysis period$)$ of $22$ years. The compounded annually interest rate is $\backslash (5\backslash \%\backslash ).$ Compute the following: present worth cost, present worth benefit, and present worth net benefit of the project.

Question $1$

Calculate the present worth of the cost $($in million $\backslash$$$)$

$($Round your answer to six decimal places.$)$

Question $2$

Calculate the present worth of the benefit $($in million $\backslash$$$)$

$($Round your answer to six decimal places.$)$

$402945\mathrm{.}255874$

Question $3$

Calculate the present worth of the net benefit $($in million $\backslash$$$)$

$($Round your answer to six decimal places.$)$

Question $4$

How much will the increase in the net benefit $($in percentage$)$ be if the service life of the project is extended to $43$ years?

$($Report your answer in decimal, e$.$g$.0\mathrm{.}05$ for $\backslash (5\backslash \%\backslash ).$ Round your answer to $6$ decimal places$)$