Read case $7-1$ on pp$\mathrm{.}352-353$ in chapter $7$ in Mikesell $($Some Rough Cost$-$Benefit Numbers for a $$ Bridge to Nowhere$)$ and answer the questions on p$\mathrm{.}353.$ When you work on this problem, remember, cost$-$ benefit analysis is all about numbers. The answers to questions $1-3$ should be numerical:

$1.$ Would you consider the bridge to be a worthwhile use of federal resources?

$$

$$

$2.$ Why might the state of Alaska be interested in getting the bridge built, even though the total cost of the bridge exceeds the present value of the benefits from the bridge? From the standpoint of Alaska, what are the relevant costs and benefits?

$$

$3.$ How do the benefit$-$cost analysis results change if the discount rate is $7$ percent? What about $2$ percent?