A 2000-gallon metal tank to store hazardous materials was bought 15 years ago at cost of $100,000. What will a 5,000-gallon tank cost today if the power–sizing exponent is 0.57 and the construction cost index for such facilities has increased from 180 to 600 over the last 15 years? Choose the closest value.

The value  is

Step-by-step explanation:

From the question we are told that

  The capacity of the metal  tank is  

   The duration usage is  

   The cost of 2000-gallon tank 15 years ago is

    The capacity of the second tank considered is  

    The power sizing exponent is

     The initial construction cost index is  

      The new construction after 15 years cost index is  

Equation for the power sizing exponent is mathematically represented as

=> Here is the cost of 5,000-gallon tank as at 15 years ago  

So

Equation for the cost index exponent is mathematically represented as

Here is the cost of 5,000-gallon tank today

So

=>    

=>      

1. 22

2. 1

3. 7

4. 18

step-by-step explanation

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