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Two mutually exclusive alternatives are being considered as possible ways to reduce traffic congestion. User benefits come from reduced congestion once the project is complete (i.e., annual over the life of the project). User disbenefits come from increased congestion during construction (i.e., one time). The interest rate is 8%, and the life of each alternative is 15 years. Doing nothing IS an alternative. Which alternative, if either, should be chosen? What is the incremental benefit-cost ratio for each alternative?
Alternative
Alt A
Alt B
User benefits/year
2,100,000
2,600,000
User disbenefits
1,200,000
Initial cost
6,900,000
9,900,000
O&M Cost/year
750,000
825,000
(a) Use the conventional benefit-cost ratio
(b) Use the modified benefit-cost ratio
(c) Use the governmental benefit-cost ratio
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