In a particular year, the Haynes Independent School District collects $100 million in property taxes. State law requires that property-rich school districts appropriate and contribute two percent of all property taxes that they collect to a state pool, which will be divided among property-poor districts. Upon receipt of the taxes, the Haynes district, which the state considers a property-rich district, should account for

Anew 2-lane road is needed in a part of town that is growing. at some point the road will need 4 lanes to handle the anticipated traffic. if the city's optimistic estimate of growth is used, the expansion will be needed in 4 years and has a probability of happening of 40%. for the most likely and pessimistic estimates, the expansion will be needed in 8 and 15 years respectively. the probability of the pessimistic estimate happening is 20%. the expansion will cost $ 4.2 million and the interest rate is 8%. what is the expected pw the expansion will cost?