Problem
Runway construction at the local airport is expected to cost $35M. The runway will require maintenance costing $200K per year. At the end of each 6-year period, the runway will require resurfacing at a cost of $1750K. Assume an interest rate of 6% and a life of 30 years. How many landings and takeoffs per day are needed to justify the runway if each landing or take-off is worth $85 to the airport authority?
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.