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<br />. <br /> <br />. <br /> <br />. <br /> <br />~o~~ <br /> <br />Economic and Financial Arlalyses <br /> <br />Table 24.--Interest during construction <br /> <br /> ($1,000 except last column) <br /> Plant Annual Accumu- <br />Fiscal in expendi- lation !'J <br />Year service tures <br />1 550 275 <br />2 780 940 <br />3 3,845 3,252 <br />4 8,200 9,275 <br />5 11,400 19,075 <br />6 11,790 30,670 <br />7 9,570 41,350 <br />8 55,378 9,243 50,757 <br />9 3,600 3,600 1,800 <br />Subtotal 58,978 58,978 -0- <br />Future developnent 1,140 1,140 -0- <br />Invest. costs 1,702 1,702 -0- <br />Total 61,820 61,820 -0- <br /> <br />Interest <br />3-1/8% <br />( dollars) <br /> <br />8,594 <br />29,375 <br />10l,625 <br />289,844 <br />596,094 <br />958,438 <br />1,292,188 <br />1,586,156 <br />56,250 <br /> <br />4,918,564 <br /> <br />4,918,600 E..I <br /> <br />.~ One-half current year expenditure plus all of previous years' <br />expenditures minus transfers to plant-in-service in previous <br />years <br />E..I Rounded for subsequent use <br /> <br />Benefit-cost Ratios <br /> <br />As shown in table 25 the Narrows Unit has favorable benefit-cost <br />ratios of l.52 considering direct benefits only and 1.62 considering <br />total benefits. <br /> <br />As is customary in benefit-cost analysis investigations costs, <br />incurred and scheduled through fiscal year 1967, are netted from <br />the project investment because they are sunk costs and, therefore, <br />do not enter into the decision of whether or not to proceed with the <br />development. <br /> <br />The project cost estimate includes $139,000 which represents the <br />incremental costs of relocating and reconstructing State Highway No. 1~. <br /> <br />88 <br />