Problem
The right-of-way and the roadbed for a new highway will cost $4.5 million. The pavement will cost $2.5 million, and it has a much shorter life of 20 years. If the discount rate is 9%, find the project's capitalized cost.
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.