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A toll bridge across the Mississippi River is being considered as a replacement for the current​ I-40 bridge linking Tennessee to Arkansas. Because this​ bridge, if​ approved, will become a part of the U.S. Interstate Highway​ system, the​ B-C ratio method must be applied in the evaluation. Investment costs of the structure are estimated to be $16,200,000​, and $334,000 per year in operating and maintenance costs are anticipated. In​ addition, the bridge must be resurfaced every fourth year of its 24​-year projected life at a cost of $1,290,000 per occurrence​ (no resurfacing cost in year 24​). Revenues generated from the toll are anticipated to be $2,800,000 in its first year of​ operation, with a projected annual rate of increase of 2.75​% per year due to the anticipated annual increase in traffic across the bridge. Assuming zero market​ (salvage) value for the bridge at the end of 24 years and a MARR of 11​% per​ year, should the toll bridge be​ constructed? Also, assume that the initial surfacing of the bridge is included in the initial investment costs of the structure.

The​ benefit-cost ratio of the project with PW is ______? ​(Round to two decimal​ places.)

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