Two bridge designs have been proposed for the new interstate highway to cross Rio de Lubbock. A bridge constructed from wood will cost $6,000 (mucho Rio!) with a useful life of eight years. A bridge constructed from steel will cost $11,000 with a useful life of twenty years. Neither bridge will have any salvage value at the end of its life. Use annual worth analysis with an interest rate of 8% to determine which design should be chosen.
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