A local government is conside ring promoting to urism in the city. It will cost $8,000 to develop a plan.111e an ticipated annual benefits and costs are as follows: Annual benefits: Increased loca l income a nd tax collections $ 125,000 Annual support service: Parking lot expansion, rest room. $50,000 patrol car, and street repair If the city governmen t uses a discount rate of 8% and a study period of five years. is this to urism project justifiable according to the benefit-cost a nalysis?

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