Question

The purchased cost of 1500 gal stainless steel tank in 1980 was $7000. The tank is spherical and the diameter of it is 6 ft. If the entire outer surface of the spherical tank is to be covered with 2 in. thickness of magnesia block, estimate the present total cost for the installed and insulated tank. The Jan. 1,1980 cost for 2 in. magnesia block was $2.20 per ft2 while the labor for installing the insulation was $5.00 per ft2.

Answer 1