Question

There are 3 parts to this 1 question.

Here is the information:

Last year your construction company built a 100,000 SF, five-story parking garage for $5,395,621. The parking garage included one elevator, which cost $126,345, and its costs are included in the $5,395,621 cost. It is estimated that all costs have been risen three percent during the last year. Using this information prepare a preliminary cost estimate for the each two part for a 95,000 SF, five-story garage with two elevators.

Part 1-

What is the cost of the new parking garage without elevators? Answer should be $5,156,000 please explain how you get this part.

Part 2-

What is the total cost of the new parking garage? Answer should be $5,258,000 please explain how you get this part.

Answer 1

ans 1
Cost per sqaure feet excluding elevator
(5395621-126345)/100000	52.69	per sq ft
	not rounded off	rounded off
Cost without elevator	5005812	5005550
$52.69*95000
Add: Elevators (2*126345)	252690	252690
Total A	5258502	5258240
Add: Adjustment for infation	3%	3%
Amt of inflation B	157755	157747
Prelimainary cost estimate (after inflation )A+B	5416257	5415987
If we round off for proper calculation than take it as	5420000	5420000
ans 2
cost of the new parking garage without elevators
Cost without elevator	5005812
Add: Inflation	150174
cost of the new parking garage without elevators	5155987
If rounded off to nearest hundred $5156000
ans 3
total cost of the new parking garage without inflation	5258240
(from working in ans 1)
So rounded off too 000	5258000
If any doubt please comment