Problem
A golf complex has a first cost of $21M, annual O&M costs of $1.7M, a salvage value in year 100 of $6M, clubhouse renovation every 20 years costing $3M, and reseeding every 5 years starting in year 5 costing $.4M. Find the EAC for a 100-year horizon if i = 8%.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.