Question: The City of Evanston is considering purchasing a new fleet of police cars. The initial cost of the fleet is $500,000. The city expects operations and maintenance costs to be $10,000 per year for the first four years and expects benefits (associated with a more efficient police force) to be $170,000 per year for the first four years. Assuming the City of Evanston has a discount rate of 4.5%, perform a cost benefit analysis on this proposed project over the four year period providing a recommendation and numerical justification for your recommendation.