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A housing development is being planned for a tract of land near the river to prevebt flood damage to the new homes that will be built on this low...
A housing development is being planned for a tract of land near the river to prevebt flood damage to the new homes that will be built on this low laying land, an earthen embankment can be constructed. The height of the embankment will be determined by an economic analysis of the cost and benefits. The embankment can be expected to last 50 years, and will require no maintenance. Whenever the flood water flows over the embankment $250,000 of damage occurs. Based on the data provided, should the embankment be built? If so, to which of the heights above the roadway? A 12% rate or return is required.
