Saxon, a retiree, was walking on his undeveloped land when he found an unusual looking rock. He took the rock to a store that sold jewelry and asked for an assessment. Jackson, a clerk and an aspiring jeweler, examined the rock and honestly indicated that he did not know what the rock was. He speculated that it could be a rough sapphire, and offered to pay $200 for it. Saxon agreed, completed the deal, and was paid. The rock turned out to be a diamond with an approximate value of $15,000. Saxon is suing Jackson and the jewelry shop for the return of the diamond. What will be the result

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.