Bacon financial advisors provides accounting and finance assistance to customers in the retail business. bacon has four professionals on staff and an office with six clerical staff. total compensation, including benefits, for the professional staff runs about $575,000 per year, and normal billable hours are 8,200 hours per year. the professional staff keep detailed time sheets organized by client number. the total office and administrative costs for the year are $754,000. what is the direct labor rate for the professional staff? (round your answer to the nearest cent.)

Suppose that a major city’s main thoroughfare, which is also an interstate highway, will be completely closed to traffic for two years, from january 2014 to december 2015, for reconstruction at a cost of $535 million. if the construction company were to keep the highway open for traffic during construction, the highway reconstruction project would take much longer and be more expensive. suppose that construction would take four years if the highway were kept open, at a total cost of $800 million. the state department of transportation had to make its decision in 2014, one year before the start of construction (so that the first payment was one year away). so the department of transportation had the following choices: (i) close the highway during construction, at an annual cost of $267.5 million per year for two years. (ii) keep the highway open during construction, at an annual cost of $200 million per year for four years. now suppose the interest rate is 80%. calculate the present value of the costs incurred under each plan.