Revenue Projection

Annual % Growth in traffic

Assumed Discount Rate
Government Subsidy
Assumed Toll Increase
Starting Toll

Total Traffic in 1994

Estimated Traffic in 1997

Year
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29

Estimated No. of Vehicles

1184261
1219789
1256383
1294074
1332897
1372884
1414070
1456492
1500187
1545193
1591548
1639295
1688474
1739128
1791302
1845041
1900392
1957404
2016126
2076610
2138908
2203075
2269167
2337242
2407360
2479581
2553968
2630587
2709505

3% (based on data given in text book)

10%
41,900,000.00 (1992 C$)
0.20 (since dependent on CPI increase, assumed approx 75

$
$

Two way traffic

1083767
1184261

Toll Rate
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

19.50
19.70
19.90
20.10
20.30
20.50
20.70
20.90
21.10
21.30
21.50
21.70
21.90
22.10
22.30
22.50
22.70
22.90
23.10
23.30
23.50
23.70
23.90
24.10
24.30
24.50
24.70
24.90
25.10

Toll Revenue
$
23,093,098.52
$
24,029,849.34
$
25,002,021.42
$
26,010,896.95
$
27,057,803.20
$
28,144,114.02
$
29,271,251.47
$
30,440,687.45
$
31,653,945.48
$
32,912,602.36
$
34,218,290.11
$
35,572,697.77
$
36,977,573.44
$
38,434,726.22
$
39,946,028.35
$
41,513,417.36
$
43,138,898.28
$
44,824,545.98
$
46,572,507.53
$
48,385,004.68
$
50,264,336.41
$
52,212,881.54
$
54,233,101.47
$
56,327,543.00
$
58,498,841.24
$
60,749,722.58
$
63,083,007.84
$
65,501,615.47
$
68,008,564.85

30
31
32
33
34
35

2790790
2874513
2960749
3049571
3141058
3235290

$
$
$
$
$
$

25.30
25.50
25.70
25.90
26.10
26.30

Total

Data Table:
Discount Rate
3%
5%
7%
9%
10%
11%
13%
15%

Projected Revenue
$
19,970,955,934.87
$
4,618,991,534.19
$
6,512,118,133.19
$
9,805,886,769.61
$
15,588,646,614.60
$
19,970,955,934.87
$
25,799,698,845.50
$
43,884,815,998.97
$
75,943,509,682.32

$
$
$
$
$
$

70,606,979.74
73,300,091.81
76,091,244.32
78,983,895.91
81,981,624.47
85,088,131.23

1,682,131,541.80

iven in text book)

t on CPI increase, assumed approx 75% of 1994)

excluded motorcycle/bicycle/pedestrians
(estimated trafffic based on 3% traffic increase)

Govt. Subsidy
$
67,480,369.00
$
74,228,405.90
$
81,651,246.49
$
89,816,371.14
$
98,798,008.25
$
108,677,809.08
$
119,545,589.99
$
131,500,148.98
$
144,650,163.88
$
159,115,180.27
$
175,026,698.30
$
192,529,368.13
$
211,782,304.94
$
232,960,535.44
$
256,256,588.98
$
281,882,247.88
$
310,070,472.66
$
341,077,519.93
$
375,185,271.92
$
412,703,799.12
$
453,974,179.03
$
499,371,596.93
$
549,308,756.62
$
604,239,632.29
$
664,663,595.51
$
731,129,955.07
$
804,242,950.57
$
884,667,245.63
$
973,133,970.19

Gross Revenue
$
90,573,467.52
$
98,258,255.24
$
106,653,267.91
$
115,827,268.09
$
125,855,811.46
$
136,821,923.10
$
148,816,841.45
$
161,940,836.44
$
176,304,109.36
$
192,027,782.63
$
209,244,988.40
$
228,102,065.90
$
248,759,878.38
$
271,395,261.66
$
296,202,617.33
$
323,395,665.24
$
353,209,370.94
$
385,902,065.91
$
421,757,779.45
$
461,088,803.80
$
504,238,515.44
$
551,584,478.47
$
603,541,858.09
$
660,567,175.29
$
723,162,436.75
$
791,879,677.64
$
867,325,958.41
$
950,168,861.10
$
1,041,142,535.04

$
$
$
$
$
$

1,070,447,367.21
1,177,492,103.93
1,295,241,314.33
1,424,765,445.76
1,567,241,990.34
1,723,966,189.37

$
$
$
$
$
$

1,141,054,346.95
1,250,792,195.74
1,371,332,558.65
1,503,749,341.67
1,649,223,614.80
1,809,054,320.60

$ 18,288,824,393.07 $

19,970,955,934.87

Discount Rate vs Revenue

$80,000,000,000.00
$70,000,000,000.00
$60,000,000,000.00
$50,000,000,000.00
$40,000,000,000.00

$19,970,955,934.87

$30,000,000,000.00
$20,000,000,000.00
$10,000,000,000.00
$3% 5% 7% 9% 10% 11% 13% 15%

NPV of Total Revenue in 1997

2,724,607,320.88

$19,970,955,934.87

Confederation Bridge
Traffic Growth
Commercial:
Other Vehicles:
Passengers:
CPI Increase Rate:
CPI (1992)
Govt Subsidy (1992 C$)
Govt Subsidy Increase Rate
Discount Rate:
O&M Cost Increase Rate:

$
$

Base Toll Rate

5.00% $
30.00
3.90% $
19.50
4.00% $
6.00

3.00%
128.10
42,000,000.00
3.00%
10.00%
3.00%

Comments
Year

Start Operation
Additional 20% incr in traffic

Capital/Equity
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019

$ 840,000,000.00

2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
Total

Discount Rate (%)

2%
4%
6%
8%
10%
12%
14%
16%
18%

Equity (NPV)
$
47,962,735,773.37
$
31,468,789,556.44
$
32,957,278,395.69
$
35,531,773,510.17
$
40,033,462,171.66
$
47,962,735,773.37
$
61,989,647,799.97
$
86,849,944,336.90
$ 130,908,524,604.59
$ 208,870,539,534.33

$250,000,000,000.00
$200,000,000,000.00
$150,000,000,000.00
$100,000,000,000.00
$50,000,000,000.00
$-

NOTE: Toll Revenue Calculated from Sheet 'Q3- Traffic and Toll Table'

NPV of Project in 1992 $

Commercial

187986
197385
207255
217617
272022
285623
299904
314899
330644
347176
364535
382762
401900
421995
443095
465249
488512
512937
538584
565513
593789
623479
654652
687385
721754
757842

Traffic
Others

674156
700448
727766
756148
936868
973406
1011369
1050812
1091794
1134374
1178614
1224580
1272339
1321960
1373516
1427083
1482740
1540567
1600649
1663074
1727934
1795323
1865341
1938089
2013675
2092208

Passengers

1820332
1893145
1968871
2047626
2539056
2640618
2746243
2856093
2970337
3089150
3212716
3341225
3474874
3613869
3758423
3908760
4065111
4227715
4396824
4572697
4755605
4945829
5143662
5349408
5563385
5785920

2,278,824,948.16

Toll Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

33,559,168.52
54,186,986.44
69,844,619.97
87,100,978.19
106,090,225.67
126,956,972.58
149,857,060.62
174,958,407.19
202,441,911.88
232,502,430.15
265,349,818.87
301,210,059.14
340,326,462.05
382,960,963.41
429,395,514.10
479,933,572.82
534,901,709.11
594,651,324.39
659,560,499.89
730,035,980.67
806,515,305.84
889,469,095.52
979,403,506.23

CPI
128.10
131.94
135.90
139.98
144.18
148.50
152.96
157.55
162.27
167.14
172.16
177.32
182.64
188.12
193.76
199.58
205.56
211.73
218.08
224.62
231.36
238.30
245.45
252.82
260.40
268.21
276.26
284.55

CPI
CPI
3.84
3.96
4.08
4.20
4.33
4.46
4.59
4.73
4.87
5.01
5.16
5.32
5.48
5.64
5.81
5.99
6.17
6.35
6.54
6.74
6.94
7.15
7.36
7.58
7.81
8.05
8.29

795734
835521
877297
921162
967220
1015581
1066360
1119678
1175662
1234445
1296167
1360975

2173804
2258582
2346667
2438187
2533276
2632074
2734725
2841379
2952193
3067329
3186955
3311246

6017357
6258051
6508373
6768708
7039456
7321035
7613876
7918431
8235168
8564575
8907158
9263444

Discount Rate vs Equity

000,000,000.00

000,000,000.00

000,000,000.00

000,000,000.00

000,000,000.00
$2%

4%

6%

8%

10% 12% 14% 16% 18%

$
$
$
$
$
$
$
$
$
$
$
$

1,076,862,866.93
1,182,432,509.01
1,296,741,804.45
1,420,467,427.49
1,554,336,856.06
1,699,132,130.61
1,855,693,889.40
2,024,925,700.16
2,207,798,710.25
2,405,356,638.41
2,618,721,133.31
2,849,097,525.66

293.08
301.88
310.93
320.26
329.87
339.76
349.96
360.46
371.27
382.41
393.88
405.70

8.54
8.79
9.06
9.33
9.61
9.90
10.19
10.50
10.81
11.14
11.47
11.82

CPI
75% of CPI
2.88
2.97
3.06
3.15
3.24
3.34
3.44
3.54
3.65
3.76
3.87
3.99
4.11
4.23
4.36
4.49
4.63
4.76
4.91
5.05
5.21
5.36
5.52
5.69
5.86
6.03
6.22

Govt. Subsidy

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

67,641,420.00
76,637,728.86
84,301,501.75
92,731,651.92
102,004,817.11
112,205,298.82
123,425,828.71
135,768,411.58
149,345,252.73
164,279,778.01
180,707,755.81
198,778,531.39
218,656,384.53
240,522,022.98
264,574,225.28
291,031,647.81
320,134,812.59
352,148,293.85
387,363,123.23
426,099,435.56
468,709,379.11
515,580,317.02
567,138,348.72

Gross Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
101,200,588.52 $
130,824,715.30
154,146,121.72
179,832,630.11
208,095,042.78
239,162,271.40
273,282,889.33
310,726,818.77
351,787,164.62
396,782,208.16
446,057,574.68
499,988,590.53
558,982,846.57
623,482,986.40
693,969,739.38
770,965,220.63
855,036,521.70
946,799,618.24
1,046,923,623.12
1,156,135,416.22
1,275,224,684.95
1,405,049,412.54
1,546,541,854.96

Construction Cost
40,000,000.00
200,000,000.00
280,000,000.00
300,000,000.00
20,000,000.00 $
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

O&M Cost

1,000,000.00
1,030,000.00
1,060,900.00
1,092,727.00
1,125,508.81
1,159,274.07
1,194,052.30
1,229,873.87
1,266,770.08
1,304,773.18
1,343,916.38
1,384,233.87
1,425,760.89
1,468,533.71
1,512,589.72
1,557,967.42
1,604,706.44
1,652,847.63
1,702,433.06
1,753,506.05
1,806,111.23
1,860,294.57
1,916,103.41

6.40
6.59
6.79
7.00
7.21
7.42
7.64
7.87
8.11
8.35
8.60
8.86

$
$
$
$
$
$
$
$
$
$
$
$

623,852,183.60
686,237,401.96
754,861,142.15
830,347,256.37
913,381,982.00
1,004,720,180.20
1,105,192,198.22
1,215,711,418.05
1,337,282,559.85
1,471,010,815.84
1,618,111,897.42
1,779,923,087.16

$
$
$
$
$
$
$
$
$
$
$
$

1,700,715,050.53
1,868,669,910.96
2,051,602,946.60
2,250,814,683.86
2,467,718,838.06
2,703,852,310.82
2,960,886,087.62
3,240,637,118.20
3,545,081,270.10
3,876,367,454.25
4,236,833,030.73
4,629,020,612.82

$
$
$
$
$
$
$
$
$
$
$
$

1,973,586.51
2,032,794.11
2,093,777.93
2,156,591.27
2,221,289.01
2,287,927.68
2,356,565.51
2,427,262.47
2,500,080.35
2,575,082.76
2,652,335.24
2,731,905.30

Net Revenue
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(840,000,000.00)
(40,000,000.00)
(200,000,000.00)
(280,000,000.00)
(300,000,000.00)
80,200,588.52
129,794,715.30
153,085,221.72
178,739,903.11
206,969,533.97
238,002,997.32
272,088,837.03
309,496,944.90
350,520,394.54
395,477,434.98
444,713,658.30
498,604,356.66
557,557,085.69
622,014,452.68
692,457,149.65
769,407,253.21
853,431,815.26
945,146,770.61
1,045,221,190.06
1,154,381,910.17
1,273,418,573.71
1,403,189,117.97
1,544,625,751.55

Net Present Value

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(840,000,000.00)
(36,363,636.36)
(165,289,256.20)
(210,368,144.25)
(204,904,036.61)
49,798,255.53
73,265,733.05
78,556,924.31
83,383,483.94
87,775,286.43
91,760,458.48
95,365,477.50
98,615,264.63
101,533,272.67
104,141,569.00
106,460,914.04
108,510,835.24
110,309,697.01
111,874,766.77
113,222,277.27
114,367,485.55
115,324,728.45
116,107,475.21
116,728,376.99
117,199,313.74
117,531,438.36
117,735,218.43
117,820,475.66

$
$
$
$
$
$
$
$
$
$
$
$

1,698,741,464.02
1,866,637,116.86
2,049,509,168.67
2,248,658,092.59
2,465,497,549.05
2,701,564,383.14
2,958,529,522.12
3,238,209,855.73
3,542,581,189.75
3,873,792,371.49
4,234,180,695.49
4,626,288,707.53

$
$
$
$
$
$
$
$
$
$
$
$

117,796,423.04
117,671,699.98
117,454,405.43
117,152,129.23
116,771,981.57
116,320,620.92
115,804,280.32
115,228,792.19
114,599,611.83
113,921,839.45
113,200,241.08
112,439,268.26

$ 47,962,735,773.37 $ 2,278,824,948.16

Confederation Bridge
Traffic Growth
Commercial:
Other Vehicles:
Passengers:
CPI Increase Rate:
CPI (1992)
Govt Subsidy (1992 C$)
Govt Subsidy Increase Rate
Discount Rate:
O&M Cost Increase Rate:

$
$

Base Toll Rate

5.00% $
30.00
3.90% $
19.50
4.00% $
6.00

3.00%
128.10
42,000,000.00
3.00%
10.00%
3.00%

Comments
Year

Start Operation
Additional 20% incr in traffic

Capital/Equity
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019

$ 840,000,000.00

2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
Total
Question 4a.:
Discount Rate (%)
5%
8%
15%
20%

NPV

NPV of Project
$
2,278,824,948.16
$
7,344,316,269.24
$
3,515,900,054.73
$
968,269,393.97
$
576,085,074.38

Discount Rate
0

Question 4d:
Cost of construction increases by 10%
NPV of Project

2,131,890,598.17

1,920,463,968.69

2,099,644,833.24

Question 4f:
NPV of Project

Question 4g:
NPV of Project

See answer at bottom of the page

NOTE: Toll Revenue Calculated from Sheet 'Tra

NPV of Project in 1992 $

2,278,824,948.16

for Q.4d
Traffic
Increased Capital

Commercial

Others

Passengers

Toll Revenue

$ 924,000,000.00
187986
197385
207255
217617
272022
285623
299904
314899
330644
347176
364535
382762
401900
421995
443095
465249
488512
512937
538584
565513
593789
623479
654652
687385
721754
757842

674156
700448
727766
756148
936868
973406
1011369
1050812
1091794
1134374
1178614
1224580
1272339
1321960
1373516
1427083
1482740
1540567
1600649
1663074
1727934
1795323
1865341
1938089
2013675
2092208

1820332
1893145
1968871
2047626
2539056
2640618
2746243
2856093
2970337
3089150
3212716
3341225
3474874
3613869
3758423
3908760
4065111
4227715
4396824
4572697
4755605
4945829
5143662
5349408
5563385
5785920

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

33,559,168.52
54,186,986.44
69,844,619.97
87,100,978.19
106,090,225.67
126,956,972.58
149,857,060.62
174,958,407.19
202,441,911.88
232,502,430.15
265,349,818.87
301,210,059.14
340,326,462.05
382,960,963.41
429,395,514.10
479,933,572.82
534,901,709.11
594,651,324.39
659,560,499.89
730,035,980.67
806,515,305.84
889,469,095.52
979,403,506.23

795734
835521
877297
921162
967220
1015581
1066360
1119678
1175662
1234445
1296167
1360975

2173804
2258582
2346667
2438187
2533276
2632074
2734725
2841379
2952193
3067329
3186955
3311246

6017357
6258051
6508373
6768708
7039456
7321035
7613876
7918431
8235168
8564575
8907158
9263444

$
$
$
$
$
$
$
$
$
$
$
$

1,076,862,866.93
1,182,432,509.01
1,296,741,804.45
1,420,467,427.49
1,554,336,856.06
1,699,132,130.61
1,855,693,889.40
2,024,925,700.16
2,207,798,710.25
2,405,356,638.41
2,618,721,133.31
2,849,097,525.66

evenue Calculated from Sheet 'Traffic and Toll Table'

for Q. 4f
No 20% traffic increase

for Q. 4g
10% traffic increase

Toll Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

33,559,168.52
45,456,061.60
58,589,578.29
73,064,104.97
88,992,180.80
106,495,107.06
125,703,606.44
146,758,531.13
169,811,623.27
195,026,331.72
222,578,689.12
252,658,253.79
285,469,121.19
321,231,010.03
360,180,428.55
402,571,926.81
448,679,441.38
498,797,739.04
553,243,966.99
612,359,317.24
676,510,813.51
746,093,229.77
821,531,150.02

Toll Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

33,559,168.52
49,821,533.42
64,217,111.06
80,082,556.30
97,541,221.03
116,726,061.01
137,780,358.47
160,858,498.20
186,126,801.14
213,764,419.46
243,964,297.95
276,934,206.37
312,897,848.03
352,096,050.26
394,788,042.64
441,252,829.64
491,790,664.33
546,724,630.91
606,402,343.66
671,197,771.17
741,513,194.96
817,781,312.15
900,467,493.09

CPI
CPI
128.10
131.94
135.90
139.98
144.18
148.50
152.96
157.55
162.27
167.14
172.16
177.32
182.64
188.12
193.76
199.58
205.56
211.73
218.08
224.62
231.36
238.30
245.45
252.82
260.40
268.21
276.26
284.55

CPI
3.84
3.96
4.08
4.20
4.33
4.46
4.59
4.73
4.87
5.01
5.16
5.32
5.48
5.64
5.81
5.99
6.17
6.35
6.54
6.74
6.94
7.15
7.36
7.58
7.81
8.05
8.29

75% of CPI
2.88
2.97
3.06
3.15
3.24
3.34
3.44
3.54
3.65
3.76
3.87
3.99
4.11
4.23
4.36
4.49
4.63
4.76
4.91
5.05
5.21
5.36
5.52
5.69
5.86
6.03
6.22

Govt. Subsidy

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

67,641,420.00
76,637,728.86
84,301,501.75
92,731,651.92
102,004,817.11
112,205,298.82
123,425,828.71
135,768,411.58
149,345,252.73
164,279,778.01
180,707,755.81
198,778,531.39
218,656,384.53
240,522,022.98
264,574,225.28
291,031,647.81
320,134,812.59
352,148,293.85
387,363,123.23
426,099,435.56
468,709,379.11
515,580,317.02
567,138,348.72

$
$
$
$
$
$
$
$
$
$
$
$

903,281,179.57
991,834,319.12
1,087,718,513.46
1,191,501,387.52
1,303,793,183.81
1,425,249,915.62
1,556,576,752.14
1,698,531,652.40
1,851,929,266.14
2,017,645,121.45
2,196,620,120.03
2,389,865,362.68

$
$
$
$
$
$
$
$
$
$
$
$

990,072,205.03
1,087,133,614.12
1,192,230,378.86
1,305,984,648.97
1,429,065,284.80
1,562,191,313.37
1,706,135,638.58
1,861,729,023.96
2,029,864,368.27
2,211,501,295.12
2,407,671,079.90
2,619,481,938.63

293.08
301.88
310.93
320.26
329.87
339.76
349.96
360.46
371.27
382.41
393.88
405.70

8.54
8.79
9.06
9.33
9.61
9.90
10.19
10.50
10.81
11.14
11.47
11.82

6.40
6.59
6.79
7.00
7.21
7.42
7.64
7.87
8.11
8.35
8.60
8.86

$
$
$
$
$
$
$
$
$
$
$
$

623,852,183.60
686,237,401.96
754,861,142.15
830,347,256.37
913,381,982.00
1,004,720,180.20
1,105,192,198.22
1,215,711,418.05
1,337,282,559.85
1,471,010,815.84
1,618,111,897.42
1,779,923,087.16

Gross Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

101,200,588.52
130,824,715.30
154,146,121.72
179,832,630.11
208,095,042.78
239,162,271.40
273,282,889.33
310,726,818.77
351,787,164.62
396,782,208.16
446,057,574.68
499,988,590.53
558,982,846.57
623,482,986.40
693,969,739.38
770,965,220.63
855,036,521.70
946,799,618.24
1,046,923,623.12
1,156,135,416.22
1,275,224,684.95
1,405,049,412.54
1,546,541,854.96

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

for Q. 4f
New

for Q. 4g
New

Gross Revenue

Gross Revenue

101,200,588.52
122,093,790.46
142,891,080.04
165,795,756.89
190,996,997.91
218,700,405.88
249,129,435.15
282,526,942.71
319,156,876.00
359,306,109.73
403,286,444.93
451,436,785.18
504,125,505.72
561,753,033.01
624,754,653.83
693,603,574.62
768,814,253.97
850,946,032.88
940,607,090.23
1,038,458,752.80
1,145,220,192.62
1,261,673,546.80
1,388,669,498.74

$
$
$
$
101,200,588.52 $
126,459,262.28
148,518,612.80
172,814,208.22
199,546,038.14
228,931,359.83
261,206,187.17
296,626,909.78
335,472,053.87
378,044,197.46
424,672,053.76
475,712,737.76
531,554,232.56
592,618,073.24
659,362,267.92
732,284,477.44
811,925,476.92
898,872,924.76
993,765,466.89
1,097,297,206.73
1,210,222,574.07
1,333,361,629.17
1,467,605,841.82

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

Construction Cost
40,000,000.00
200,000,000.00
280,000,000.00
300,000,000.00
20,000,000.00

$
$
$
$
$
$
$
$
$
$
$
$

1,700,715,050.53
1,868,669,910.96
2,051,602,946.60
2,250,814,683.86
2,467,718,838.06
2,703,852,310.82
2,960,886,087.62
3,240,637,118.20
3,545,081,270.10
3,876,367,454.25
4,236,833,030.73
4,629,020,612.82

$
$
$
$
$
$
$
$
$
$
$
$

1,527,133,363.16
1,678,071,721.08
1,842,579,655.61
2,021,848,643.89
2,217,175,165.82
2,429,970,095.82
2,661,768,950.37
2,914,243,070.45
3,189,211,825.99
3,488,655,937.29
3,814,732,017.45
4,169,788,449.85

$
$
$
$
$
$
$
$
$
$
$
$

1,613,924,388.63
1,773,371,016.08
1,947,091,521.01
2,136,331,905.34
2,342,447,266.80
2,566,911,493.58
2,811,327,836.80
3,077,440,442.01
3,367,146,928.12
3,682,512,110.96
4,025,782,977.32
4,399,405,025.79

for Q. 4d
Increased
Construction Cost
$
$
$
$
$

44,000,000.00
220,000,000.00
308,000,000.00
330,000,000.00
22,000,000.00 $
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

for Q. 4d
New
O&M Cost

1,000,000.00
1,030,000.00
1,060,900.00
1,092,727.00
1,125,508.81
1,159,274.07
1,194,052.30
1,229,873.87
1,266,770.08
1,304,773.18
1,343,916.38
1,384,233.87
1,425,760.89
1,468,533.71
1,512,589.72
1,557,967.42
1,604,706.44
1,652,847.63
1,702,433.06
1,753,506.05
1,806,111.23
1,860,294.57
1,916,103.41

Net Revenue
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(840,000,000.00)
(40,000,000.00)
(200,000,000.00)
(280,000,000.00)
(300,000,000.00)
80,200,588.52
129,794,715.30
153,085,221.72
178,739,903.11
206,969,533.97
238,002,997.32
272,088,837.03
309,496,944.90
350,520,394.54
395,477,434.98
444,713,658.30
498,604,356.66
557,557,085.69
622,014,452.68
692,457,149.65
769,407,253.21
853,431,815.26
945,146,770.61
1,045,221,190.06
1,154,381,910.17
1,273,418,573.71
1,403,189,117.97
1,544,625,751.55

Net Revenue
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(924,000,000.00)
(44,000,000.00)
(220,000,000.00)
(308,000,000.00)
(330,000,000.00)
78,200,588.52
129,794,715.30
153,085,221.72
178,739,903.11
206,969,533.97
238,002,997.32
272,088,837.03
309,496,944.90
350,520,394.54
395,477,434.98
444,713,658.30
498,604,356.66
557,557,085.69
622,014,452.68
692,457,149.65
769,407,253.21
853,431,815.26
945,146,770.61
1,045,221,190.06
1,154,381,910.17
1,273,418,573.71
1,403,189,117.97
1,544,625,751.55

$
$
$
$
$
$
$
$
$
$
$
$

1,973,586.51
2,032,794.11
2,093,777.93
2,156,591.27
2,221,289.01
2,287,927.68
2,356,565.51
2,427,262.47
2,500,080.35
2,575,082.76
2,652,335.24
2,731,905.30

$
$
$
$
$
$
$
$
$
$
$
$

1,698,741,464.02
1,866,637,116.86
2,049,509,168.67
2,248,658,092.59
2,465,497,549.05
2,701,564,383.14
2,958,529,522.12
3,238,209,855.73
3,542,581,189.75
3,873,792,371.49
4,234,180,695.49
4,626,288,707.53

$
$
$
$
$
$
$
$
$
$
$
$

1,698,741,464.02
1,866,637,116.86
2,049,509,168.67
2,248,658,092.59
2,465,497,549.05
2,701,564,383.14
2,958,529,522.12
3,238,209,855.73
3,542,581,189.75
3,873,792,371.49
4,234,180,695.49
4,626,288,707.53

$ 47,962,735,773.37 $ 47,794,735,773.37

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

for Q. 4f
New

for Q. 4g
New

Net Revenue

Net Revenue

(840,000,000.00)
(40,000,000.00)
(200,000,000.00)
(280,000,000.00)
(300,000,000.00)
80,200,588.52
121,063,790.46
141,830,180.04
164,703,029.89
189,871,489.10
217,541,131.81
247,935,382.85
281,297,068.84
317,890,105.92
358,001,336.54
401,942,528.55
450,052,551.31
502,699,744.83
560,284,499.29
623,242,064.10
692,045,607.21
767,209,547.53
849,293,185.25
938,904,657.17
1,036,705,246.75
1,143,414,081.39
1,259,813,252.22
1,386,753,395.33

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(840,000,000.00)
(40,000,000.00)
(200,000,000.00)
(280,000,000.00)
(300,000,000.00)
80,200,588.52
125,429,262.28
147,457,712.80
171,721,481.22
198,420,529.33
227,772,085.76
260,012,134.88
295,397,035.92
334,205,283.79
376,739,424.28
423,328,137.38
474,328,503.89
530,128,471.68
591,149,539.53
657,849,678.20
730,726,510.03
810,320,770.48
897,220,077.13
992,063,033.83
1,095,543,700.68
1,208,416,462.83
1,331,501,334.60
1,465,689,738.41

for Q. 4d
New
Net Present Value
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(840,000,000.00)
(36,363,636.36)
(165,289,256.20)
(210,368,144.25)
(204,904,036.61)
49,798,255.53
73,265,733.05
78,556,924.31
83,383,483.94
87,775,286.43
91,760,458.48
95,365,477.50
98,615,264.63
101,533,272.67
104,141,569.00
106,460,914.04
108,510,835.24
110,309,697.01
111,874,766.77
113,222,277.27
114,367,485.55
115,324,728.45
116,107,475.21
116,728,376.99
117,199,313.74
117,531,438.36
117,735,218.43
117,820,475.66

Net Present Value

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(924,000,000.00)
(40,000,000.00)
(181,818,181.82)
(231,404,958.68)
(225,394,440.27)
48,556,412.89
73,265,733.05
78,556,924.31
83,383,483.94
87,775,286.43
91,760,458.48
95,365,477.50
98,615,264.63
101,533,272.67
104,141,569.00
106,460,914.04
108,510,835.24
110,309,697.01
111,874,766.77
113,222,277.27
114,367,485.55
115,324,728.45
116,107,475.21
116,728,376.99
117,199,313.74
117,531,438.36
117,735,218.43
117,820,475.66

$
$
$
$
$
$
$
$
$
$
$
$

1,525,159,776.65
1,676,038,926.97
1,840,485,877.68
2,019,692,052.62
2,214,953,876.81
2,427,682,168.14
2,659,412,384.86
2,911,815,807.98
3,186,711,745.65
3,486,080,854.53
3,812,079,682.21
4,167,056,544.55

$
$
$
$
$
$
$
$
$
$
$
$

1,611,950,802.12
1,771,338,221.97
1,944,997,743.08
2,134,175,314.07
2,340,225,977.79
2,564,623,565.90
2,808,971,271.29
3,075,013,179.54
3,364,646,847.77
3,679,937,028.20
4,023,130,642.09
4,396,673,120.49

$
$
$
$
$
$
$
$
$
$
$
$

117,796,423.04
117,671,699.98
117,454,405.43
117,152,129.23
116,771,981.57
116,320,620.92
115,804,280.32
115,228,792.19
114,599,611.83
113,921,839.45
113,200,241.08
112,439,268.26

$
$
$
$
$
$
$
$
$
$
$
$

117,796,423.04
117,671,699.98
117,454,405.43
117,152,129.23
116,771,981.57
116,320,620.92
115,804,280.32
115,228,792.19
114,599,611.83
113,921,839.45
113,200,241.08
112,439,268.26

$ 2,278,824,948.16 $ 2,131,890,598.17

for Q. 4f
New

for Q. 4g

Net Present Value

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(840,000,000.00)
(36,363,636.36)
(165,289,256.20)
(210,368,144.25)
(204,904,036.61)
49,798,255.53
68,337,353.59
72,781,308.30
76,835,178.99
80,524,046.32
83,871,523.54
86,899,839.16
89,629,915.06
92,081,440.36
94,272,941.00
96,221,845.64
97,944,547.80
99,456,464.57
100,772,092.05
101,905,057.70
102,868,169.81
103,673,464.18
104,332,248.19
104,855,142.46
105,252,120.12
105,532,543.97
105,705,201.48
105,778,337.89

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(840,000,000.00)
(36,363,636.36)
(165,289,256.20)
(210,368,144.25)
(204,904,036.61)
49,798,255.53
70,801,548.62
75,669,122.42
80,109,338.33
84,149,673.93
87,815,999.18
91,132,667.07
94,122,599.10
96,807,366.23
99,207,265.14
101,341,390.36
103,227,702.38
104,883,091.95
106,323,440.84
107,563,679.15
108,617,839.54
109,499,108.35
110,219,873.88
110,791,772.03
111,225,729.34
111,532,003.65
111,720,222.50
111,799,419.36

$
$
$
$
$
$
$
$
$
$
$
$

105,759,687.43
105,656,502.80
105,475,583.02
105,223,299.68
104,905,621.74
104,528,138.94
104,096,083.88
103,614,352.87
103,087,525.60
102,519,883.70
101,915,428.29
101,277,896.45

$
$
$
$
$
$
$
$
$
$
$
$

111,778,067.84
111,664,114.00
111,465,006.83
111,187,727.04
110,838,814.20
110,424,392.43
109,950,194.54
109,421,584.90
108,843,581.01
108,220,873.79
107,557,846.81
106,858,594.38

$ 1,920,463,968.69 $

2,099,644,833.24

Confederation Bridge

See answer below

Traffic Growth

Commercial:
Other Vehicles:
Passengers:
CPI Increase Rate:
CPI (1992)
Govt Subsidy (1992 C$)
Govt Subsidy Increase Rate
Discount Rate:
O&M Cost Increase Rate:

$
$

Base Toll Rate

5.00% $
30.00
3.90% $
19.50
4.00% $
6.00

3.00%
128.10
42,000,000.00
3%
10%
3%

3.60%

<- Increased Subsidy Incr. rate

Comments
Year

Start Operation
Additional 20% incr in traffic

Capital/Equity
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019

$ 840,000,000.00

2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
Total

Question 4.b
NPV of the Project:

2,420,903,503.79

2,420,903,503.79

ased Subsidy Incr. rate

for Q. 4b
New
Toll Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

34,952,075.55
56,814,660.97
73,543,529.72
91,983,837.82
112,279,318.54
134,584,900.58
159,067,550.79
185,907,179.08
215,297,610.47
247,447,628.94
282,582,098.51
320,943,167.15
362,791,559.60
408,407,965.71
458,094,531.15
512,176,458.24
571,003,724.75
634,952,929.45
704,429,273.76
779,868,689.33
861,740,122.41
950,547,986.42

for Q. 4b
New
Govt. Subsidy

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

67,641,420.00
77,084,162.23
84,792,578.46
93,271,836.30
102,599,019.93
112,858,921.92
124,144,814.12
136,559,295.53
150,215,225.08
165,236,747.59
181,760,422.35
199,936,464.58
219,930,111.04
241,923,122.14
266,115,434.36
292,726,977.80
321,999,675.57
354,199,643.13
389,619,607.45
428,581,568.19
471,439,725.01
518,583,697.51
570,442,067.26

Gross Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
67,641,420.00 $
131,271,148.68 $
154,637,198.43
180,372,814.49
208,689,245.60
239,815,894.50
274,001,874.74
311,517,702.72
352,657,136.96
397,739,177.74
447,110,241.22
501,146,523.72
560,256,573.09
624,884,085.56
695,510,948.46
772,660,550.62
856,901,384.69
948,850,967.52
1,049,180,107.33
1,158,617,548.86
1,277,955,030.84
1,408,052,793.03
1,549,845,573.49

Construction Cost
40,000,000.00
160,000,000.00
160,000,000.00
160,000,000.00
160,000,000.00
160,000,000.00

$
$
$
$
$
$
$
$
$
$
$
$
$

1,046,834,795.15
1,151,183,989.71
1,264,222,973.62
1,386,626,371.12
1,519,119,525.24
1,662,482,253.16
1,817,552,877.66
1,985,232,555.06
2,166,489,921.31
2,362,366,079.54
2,573,979,954.27
2,802,534,039.03
3,049,320,566.30

$
$
$
$
$
$
$
$
$
$
$
$
$

627,486,273.99
690,234,901.39
759,258,391.52
835,184,230.68
918,702,653.74
1,010,572,919.12
1,111,630,211.03
1,222,793,232.13
1,345,072,555.35
1,479,579,810.88
1,627,537,791.97
1,790,291,571.17
1,969,320,728.28

$
$
$
$
$
$
$
$
$
$
$
$
$

1,704,349,140.92
1,872,667,410.39
2,056,000,195.97
2,255,651,658.17
2,473,039,509.80
2,709,705,049.73
2,967,324,100.43
3,247,718,932.29
3,552,871,265.59
3,884,936,449.29
4,246,258,925.28
4,639,389,096.83
5,067,101,731.27

O&M Cost

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

1,000,000.00
1,030,000.00
1,060,900.00
1,092,727.00
1,125,508.81
1,159,274.07
1,194,052.30
1,229,873.87
1,266,770.08
1,304,773.18
1,343,916.38
1,384,233.87
1,425,760.89
1,468,533.71
1,512,589.72
1,557,967.42
1,604,706.44
1,652,847.63
1,702,433.06
1,753,506.05
1,806,111.23
1,860,294.57

Net Revenue
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(840,000,000.00)
(40,000,000.00)
(160,000,000.00)
(160,000,000.00)
(160,000,000.00)
(92,358,580.00)
(29,728,851.32)
153,607,198.43
179,311,914.49
207,596,518.60
238,690,385.69
272,842,600.66
310,323,650.42
351,427,263.10
396,472,407.66
445,805,468.03
499,802,607.34
558,872,339.22
623,458,324.67
694,042,414.74
771,147,960.89
855,343,417.27
947,246,261.09
1,047,527,259.70
1,156,915,115.80
1,276,201,524.79
1,406,246,681.79
1,547,985,278.92

Net Present Value

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(840,000,000.00)
(36,363,636.36)
(132,231,404.96)
(120,210,368.14)
(109,282,152.86)
(57,347,411.69)
(16,781,161.54)
78,824,780.89
83,650,331.47
88,041,189.12
92,025,476.45
95,629,667.05
98,878,678.49
101,795,960.19
104,403,576.41
106,722,284.61
108,771,609.50
110,569,912.91
112,134,459.83
113,481,480.78
114,626,230.65
115,583,044.32
116,365,389.16
116,985,914.60
117,456,498.96
117,788,293.61
117,991,764.71
118,076,732.63

$
$
$
$
$
$
$
$
$
$
$
$
$

1,916,103.41
1,973,586.51
2,032,794.11
2,093,777.93
2,156,591.27
2,221,289.01
2,287,927.68
2,356,565.51
2,427,262.47
2,500,080.35
2,575,082.76
2,652,335.24
2,731,905.30

$ 1,702,433,037.51
$ 1,870,693,823.88
$ 2,053,967,401.87
$ 2,253,557,880.24
$ 2,470,882,918.53
$ 2,707,483,760.73
$ 2,965,036,172.75
$ 3,245,362,366.78
$ 3,550,444,003.12
$ 3,882,436,368.95
$ 4,243,683,842.52
$ 4,636,736,761.59
$ 5,064,369,825.97
$ 53,105,867,326.43

$ 118,052,409.11
$ 117,927,432.39
$ 117,709,900.33
$ 117,407,401.72
$ 117,027,045.82
$ 116,575,490.17
$ 116,058,966.97
$ 115,483,307.88
$ 114,853,967.43
$ 114,176,045.15
$ 113,454,306.42
$ 112,693,202.17
$ 111,896,887.44
$ 2,420,903,503.79

Confederation Bridge
Traffic Growth
Commercial:
Other Vehicles:
Passengers:
CPI Increase Rate:
CPI (1992)
Govt Subsidy (1992 C$)
Govt Subsidy Increase Rate
Discount Rate:
O&M Cost Increase Rate:

$
$

Base Toll Rate

5.00% $
30.00
3.90% $
19.50
4.00% $
6.00

3.00%
128.10
42,000,000.00
3.00%
10.00%
3.00%

Comments
Year

Start Operation
Additional 20% incr in traffic

Capital/Equity
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019

$ 840,000,000.00

2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
Total

Question 4.c
NPV of the Project:

2,276,217,078.60

NOTE: Toll Revenue Calculated from Sheet 'Q4c- Traffic and Toll Table'

NPV of Project in 1992 $

Commercial

187986
197385
207255
217617
272022
285623
299904
314899
330644
347176
364535
382762
401900
421995
443095
465249
488512
512937
538584
565513
593789
623479
654652
687385
721754
757842

Traffic
Others

674156
700448
727766
756148
936868
973406
1011369
1050812
1091794
1134374
1178614
1224580
1272339
1321960
1373516
1427083
1482740
1540567
1600649
1663074
1727934
1795323
1865341
1938089
2013675
2092208

Passengers

1820332
1893145
1968871
2047626
2539056
2640618
2746243
2856093
2970337
3089150
3212716
3341225
3474874
3613869
3758423
3908760
4065111
4227715
4396824
4572697
4755605
4945829
5143662
5349408
5563385
5785920

2,276,217,078.60

Toll Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

33,559,168.52
54,186,986.44
69,844,619.97
87,100,978.19
106,090,225.67
126,956,972.58
149,857,060.62
174,958,407.19
202,441,911.88
232,502,430.15
265,349,818.87
301,210,059.14
340,326,462.05
382,960,963.41
429,395,514.10
479,933,572.82
534,901,709.11
594,651,324.39
659,560,499.89
730,035,980.67
806,515,305.84
889,469,095.52
979,403,506.23

CPI
128.10
131.94
135.90
139.98
144.18
148.50
152.96
157.55
162.27
167.14
172.16
177.32
182.64
188.12
193.76
199.58
205.56
211.73
218.08
224.62
231.36
238.30
245.45
252.82
260.40
268.21
276.26
284.55

CPI
CPI
3.84
3.96
4.08
4.20
4.33
4.46
4.59
4.73
4.87
5.01
5.16
5.32
5.48
5.64
5.81
5.99
6.17
6.35
6.54
6.74
6.94
7.15
7.36
7.58
7.81
8.05
8.29

795734
835521
877297
921162
967220
1015581
1066360
1119678
1175662
1234445
1296167
1360975

2173804
2258582
2346667
2438187
2533276
2632074
2734725
2841379
2952193
3067329
3186955
3311246

6017357
6258051
6508373
6768708
7039456
7321035
7613876
7918431
8235168
8564575
8907158
9263444

$
$
$
$
$
$
$
$
$
$
$
$

1,076,862,866.93
1,182,432,509.01
1,296,741,804.45
1,420,467,427.49
1,554,336,856.06
1,699,132,130.61
1,855,693,889.40
2,024,925,700.16
2,207,798,710.25
2,405,356,638.41
2,618,721,133.31
2,849,097,525.66

293.08
301.88
310.93
320.26
329.87
339.76
349.96
360.46
371.27
382.41
393.88
405.70

8.54
8.79
9.06
9.33
9.61
9.90
10.19
10.50
10.81
11.14
11.47
11.82

CPI
75% of CPI
2.88
2.97
3.06
3.15
3.24
3.34
3.44
3.54
3.65
3.76
3.87
3.99
4.11
4.23
4.36
4.49
4.63
4.76
4.91
5.05
5.21
5.36
5.52
5.69
5.86
6.03
6.22

Govt. Subsidy

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

67,641,420.00
76,637,728.86
84,301,501.75
92,731,651.92
102,004,817.11
112,205,298.82
123,425,828.71
135,768,411.58
149,345,252.73
164,279,778.01
180,707,755.81
198,778,531.39
218,656,384.53
240,522,022.98
264,574,225.28
291,031,647.81
320,134,812.59
352,148,293.85
387,363,123.23
426,099,435.56
468,709,379.11
515,580,317.02
567,138,348.72

Gross Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
101,200,588.52 $
130,824,715.30
154,146,121.72
179,832,630.11
208,095,042.78
239,162,271.40
273,282,889.33
310,726,818.77
351,787,164.62
396,782,208.16
446,057,574.68
499,988,590.53
558,982,846.57
623,482,986.40
693,969,739.38
770,965,220.63
855,036,521.70
946,799,618.24
1,046,923,623.12
1,156,135,416.22
1,275,224,684.95
1,405,049,412.54
1,546,541,854.96

Construction Cost
40,000,000.00
200,000,000.00
300,000,000.00
300,000,000.00
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

O&M Cost

1,000,000.00
1,030,000.00
1,060,900.00
1,092,727.00
1,125,508.81
1,159,274.07
1,194,052.30
1,229,873.87
1,266,770.08
1,304,773.18
1,343,916.38
1,384,233.87
1,425,760.89
1,468,533.71
1,512,589.72
1,557,967.42
1,604,706.44
1,652,847.63
1,702,433.06
1,753,506.05
1,806,111.23
1,860,294.57
1,916,103.41

6.40
6.59
6.79
7.00
7.21
7.42
7.64
7.87
8.11
8.35
8.60
8.86

$
$
$
$
$
$
$
$
$
$
$
$

623,852,183.60
686,237,401.96
754,861,142.15
830,347,256.37
913,381,982.00
1,004,720,180.20
1,105,192,198.22
1,215,711,418.05
1,337,282,559.85
1,471,010,815.84
1,618,111,897.42
1,779,923,087.16

$
$
$
$
$
$
$
$
$
$
$
$

1,700,715,050.53
1,868,669,910.96
2,051,602,946.60
2,250,814,683.86
2,467,718,838.06
2,703,852,310.82
2,960,886,087.62
3,240,637,118.20
3,545,081,270.10
3,876,367,454.25
4,236,833,030.73
4,629,020,612.82

$
$
$
$
$
$
$
$
$
$
$
$

1,973,586.51
2,032,794.11
2,093,777.93
2,156,591.27
2,221,289.01
2,287,927.68
2,356,565.51
2,427,262.47
2,500,080.35
2,575,082.76
2,652,335.24
2,731,905.30

Net Revenue
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(840,000,000.00)
(40,000,000.00)
(200,000,000.00)
(300,000,000.00)
(300,000,000.00)
100,200,588.52
129,794,715.30
153,085,221.72
178,739,903.11
206,969,533.97
238,002,997.32
272,088,837.03
309,496,944.90
350,520,394.54
395,477,434.98
444,713,658.30
498,604,356.66
557,557,085.69
622,014,452.68
692,457,149.65
769,407,253.21
853,431,815.26
945,146,770.61
1,045,221,190.06
1,154,381,910.17
1,273,418,573.71
1,403,189,117.97
1,544,625,751.55

Net Present Value

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(840,000,000.00)
(36,363,636.36)
(165,289,256.20)
(225,394,440.27)
(204,904,036.61)
62,216,682.00
73,265,733.05
78,556,924.31
83,383,483.94
87,775,286.43
91,760,458.48
95,365,477.50
98,615,264.63
101,533,272.67
104,141,569.00
106,460,914.04
108,510,835.24
110,309,697.01
111,874,766.77
113,222,277.27
114,367,485.55
115,324,728.45
116,107,475.21
116,728,376.99
117,199,313.74
117,531,438.36
117,735,218.43
117,820,475.66

$
$
$
$
$
$
$
$
$
$
$
$

1,698,741,464.02
1,866,637,116.86
2,049,509,168.67
2,248,658,092.59
2,465,497,549.05
2,701,564,383.14
2,958,529,522.12
3,238,209,855.73
3,542,581,189.75
3,873,792,371.49
4,234,180,695.49
4,626,288,707.53

$
$
$
$
$
$
$
$
$
$
$
$

117,796,423.04
117,671,699.98
117,454,405.43
117,152,129.23
116,771,981.57
116,320,620.92
115,804,280.32
115,228,792.19
114,599,611.83
113,921,839.45
113,200,241.08
112,439,268.26

$ 47,962,735,773.37 $ 2,276,217,078.60

Confederation Bridge
Traffic Growth
Commercial:
Other Vehicles:
Passengers:
CPI Increase Rate:
CPI (1992)
Govt Subsidy (1992 C$)
Govt Subsidy Increase Rate
Discount Rate:
O&M Cost Increase Rate:

$
$

Base Toll Rate

5.00% $
30.00
3.90% $
19.50
4.00% $
6.00

3.00%
128.10
42,000,000.00
3%
10%
3%

3.60%

NOTE: Toll Revenue Calcula

<- Increased Subsidy Incr. rate

Comments
Year

Start Operation
Additional 20% incr in traffic

Capital/Equity
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019

$ 924,000,000.00

2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
Total

Question 4.e
Assumed the same conditions in Question 4b.

NPV of the Project:

2,162,262,016.79

See answer below

NOTE: Toll Revenue Calculated from Sheet 'Q-4b- Traffic and Toll Table'

2,162,262,016.79

ased Subsidy Incr. rate

Commercial

187986
197385
207255
217617
228498
285623
299904
314899
330644
347176
364535
382762
401900
421995
443095
465249
488512
512937
538584
565513
593789
623479
654652
687385
721754
757842

Traffic
Others

674156
700448.084
727765.5593
756148.4161
785638.2043
973405.7351
1011368.559
1050811.933
1091793.598
1134373.548
1178614.117
1224580.067
1272338.69
1321959.899
1373516.335
1427083.472
1482739.727
1540566.577
1600648.673
1663073.971
1727933.856
1795323.277
1865340.884
1938089.179
2013674.657
2092207.969

for Q. 4b
New
Toll Revenue

Passengers

1820332
1893145.28
1968871.091
2047625.935
2129530.972
2640618.406
2746243.142
2856092.867
2970336.582
3089150.045
3212716.047
3341224.689
3474873.677
3613868.624
3758423.369
3908760.304
4065110.716
4227715.144
4396823.75
4572696.7
4755604.568
4945828.751
5143661.901
5349408.377
5563384.712
5785920.1

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

34,952,075.55
56,814,660.97
73,543,529.72
91,983,837.82
112,279,318.54
134,584,900.58
159,067,550.79
185,907,179.08
215,297,610.47
247,447,628.94
282,582,098.51
320,943,167.15
362,791,559.60
408,407,965.71
458,094,531.15
512,176,458.24
571,003,724.75
634,952,929.45
704,429,273.76
779,868,689.33
861,740,122.41
950,547,986.42

CPI
128.10
131.94
135.90
139.98
144.18
148.50
152.96
157.55
162.27
167.14
172.16
177.32
182.64
188.12
193.76
199.58
205.56
211.73
218.08
224.62
231.36
238.30
245.45
252.82
260.40
268.21
276.26
284.55

CPI
CPI
3.84
3.96
4.08
4.20
4.33
4.46
4.59
4.73
4.87
5.01
5.16
5.32
5.48
5.64
5.81
5.99
6.17
6.35
6.54
6.74
6.94
7.15
7.36
7.58
7.81
8.05
8.29

795734
835521
877297
921162
967220
1015581
1066360
1119678
1175662
1234445
1296167
1360975
1429024

2173804.079
2258582.438
2346667.154
2438187.172
2533276.472
2632074.255
2734725.151
2841379.431
2952193.229
3067328.765
3186954.587
3311245.816
3440384.403

6017356.904
6258051.181
6508373.228
6768708.157
7039456.483
7321034.743
7613876.132
7918431.178
8235168.425
8564575.162
8907158.168
9263444.495
9633982.275

$
$
$
$
$
$
$
$
$
$
$
$
$

1,046,834,795.15
1,151,183,989.71
1,264,222,973.62
1,386,626,371.12
1,519,119,525.24
1,662,482,253.16
1,817,552,877.66
1,985,232,555.06
2,166,489,921.31
2,362,366,079.54
2,573,979,954.27
2,802,534,039.03
3,049,320,566.30

293.08
301.88
310.93
320.26
329.87
339.76
349.96
360.46
371.27
382.41
393.88
405.70
417.87

8.54
8.79
9.06
9.33
9.61
9.90
10.19
10.50
10.81
11.14
11.47
11.82
12.17

for Q. 4b
New
Govt. Subsidy

CPI
75% of CPI
2.88
2.97
3.06
3.15
3.24
3.34
3.44
3.54
3.65
3.76
3.87
3.99
4.11
4.23
4.36
4.49
4.63
4.76
4.91
5.05
5.21
5.36
5.52
5.69
5.86
6.03
6.22

Govt. Subsidy

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

67,641,420.00
76,637,728.86
84,301,501.75
92,731,651.92
102,004,817.11
112,205,298.82
123,425,828.71
135,768,411.58
149,345,252.73
164,279,778.01
180,707,755.81
198,778,531.39
218,656,384.53
240,522,022.98
264,574,225.28
291,031,647.81
320,134,812.59
352,148,293.85
387,363,123.23
426,099,435.56
468,709,379.11
515,580,317.02
567,138,348.72

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

67,641,420.00
77,084,162.23
84,792,578.46
93,271,836.30
102,599,019.93
112,858,921.92
124,144,814.12
136,559,295.53
150,215,225.08
165,236,747.59
181,760,422.35
199,936,464.58
219,930,111.04
241,923,122.14
266,115,434.36
292,726,977.80
321,999,675.57
354,199,643.13
389,619,607.45
428,581,568.19
471,439,725.01
518,583,697.51
570,442,067.26

Gross Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
67,641,420.00 $
112,036,237.79 $
141,607,239.42
166,815,366.02
194,582,857.76
225,138,240.46
258,729,714.70
295,626,846.32
336,122,404.16
380,534,358.06
429,208,051.28
482,518,563.09
540,873,278.19
604,714,681.75
674,523,400.07
750,821,508.95
834,176,133.82
925,203,367.88
1,024,572,536.90
1,133,010,841.95
1,251,308,414.34
1,380,323,819.92
1,520,990,053.68

Construction Cost
44,000,000.00
176,000,000.00
176,000,000.00
176,000,000.00
176,000,000.00
176,000,000.00

6.40
6.59
6.79
7.00
7.21
7.42
7.64
7.87
8.11
8.35
8.60
8.86
9.13

$
$
$
$
$
$
$
$
$
$
$
$
$

623,852,183.60
686,237,401.96
754,861,142.15
830,347,256.37
913,381,982.00
1,004,720,180.20
1,105,192,198.22
1,215,711,418.05
1,337,282,559.85
1,471,010,815.84
1,618,111,897.42
1,779,923,087.16
1,957,915,395.88

$
$
$
$
$
$
$
$
$
$
$
$
$

627,486,273.99
690,234,901.39
759,258,391.52
835,184,230.68
918,702,653.74
1,010,572,919.12
1,111,630,211.03
1,222,793,232.13
1,345,072,555.35
1,479,579,810.88
1,627,537,791.97
1,790,291,571.17
1,969,320,728.28

$
$
$
$
$
$
$
$
$
$
$
$
$

1,674,321,069.14
1,841,418,891.10
2,023,481,365.15
2,221,810,601.79
2,437,822,178.99
2,673,055,172.28
2,929,183,088.69
3,208,025,787.20
3,511,562,476.65
3,841,945,890.42
4,201,517,746.24
4,592,825,610.20
5,018,641,294.59

O&M Cost

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

1,000,000.00
1,030,000.00
1,060,900.00
1,092,727.00
1,125,508.81
1,159,274.07
1,194,052.30
1,229,873.87
1,266,770.08
1,304,773.18
1,343,916.38
1,384,233.87
1,425,760.89
1,468,533.71
1,512,589.72
1,557,967.42
1,604,706.44
1,652,847.63
1,702,433.06
1,753,506.05
1,806,111.23
1,860,294.57

Net Revenue
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(924,000,000.00)
(44,000,000.00)
(176,000,000.00)
(176,000,000.00)
(176,000,000.00)
(108,358,580.00)
(64,963,762.21)
140,577,239.42
165,754,466.02
193,490,130.76
224,012,731.65
257,570,440.63
294,432,794.02
334,892,530.30
379,267,587.98
427,903,278.10
481,174,646.71
539,489,044.32
603,288,920.86
673,054,866.35
749,308,919.22
832,618,166.40
923,598,661.44
1,022,919,689.26
1,131,308,408.89
1,249,554,908.29
1,378,517,708.68
1,519,129,759.11

Net Present Value

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

(924,000,000.00)
(40,000,000.00)
(145,454,545.45)
(132,231,404.96)
(120,210,368.14)
(67,282,152.86)
(36,670,350.17)
72,138,351.65
77,325,681.70
82,058,703.63
86,366,605.43
90,276,868.13
93,815,361.92
97,006,437.07
99,873,009.66
102,436,642.68
104,717,622.53
106,735,031.35
108,506,815.27
110,049,848.91
111,379,996.26
112,512,168.19
113,460,376.76
114,237,786.47
114,856,762.73
115,328,917.54
115,665,152.66
115,875,700.39

$
$
$
$
$
$
$
$
$
$
$
$
$

1,916,103.41
1,973,586.51
2,032,794.11
2,093,777.93
2,156,591.27
2,221,289.01
2,287,927.68
2,356,565.51
2,427,262.47
2,500,080.35
2,575,082.76
2,652,335.24
2,731,905.30

$ 1,672,404,965.73
$ 1,839,445,304.59
$ 2,021,448,571.04
$ 2,219,716,823.86
$ 2,435,665,587.72
$ 2,670,833,883.27
$ 2,926,895,161.01
$ 3,205,669,221.69
$ 3,509,135,214.18
$ 3,839,445,810.07
$ 4,198,942,663.49
$ 4,590,173,274.96
$ 5,015,909,389.29
$ 51,998,228,427.12

$ 115,970,162.03
$ 115,957,544.21
$ 115,846,293.18
$ 115,644,327.19
$ 115,359,067.07
$ 114,997,465.03
$ 114,566,031.93
$ 114,070,862.93
$ 113,517,661.80
$ 112,911,763.77
$ 112,258,157.12
$ 111,561,503.59
$ 110,826,157.57
$ 2,162,262,016.79

Year

Commercial
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032

187986
197385
207255
217617
272022
285623
299904
314899
330644
347176
364535
382762
401900
421995
443095
465249
488512
512937
538584
565513
593789
623479
654652
687385
721754
757842
795734
835521
877297
921162
967220
1015581
1066360
1119678
1175662
1234445
1296167
1360975
1429024

Traffic
Others

674156
700448
727766
756148
936868
973406
1011369
1050812
1091794
1134374
1178614
1224580
1272339
1321960
1373516
1427083
1482740
1540567
1600649
1663074
1727934
1795323
1865341
1938089
2013675
2092208
2173804
2258582
2346667
2438187
2533276
2632074
2734725
2841379
2952193
3067329
3186955
3311246
3440384

Passengers

1820332
1893145
1968871
2047626
2539056
2640618
2746243
2856093
2970337
3089150
3212716
3341225
3474874
3613869
3758423
3908760
4065111
4227715
4396824
4572697
4755605
4945829
5143662
5349408
5563385
5785920
6017357
6258051
6508373
6768708
7039456
7321035
7613876
7918431
8235168
8564575
8907158
9263444
9633982

Commercial

Toll Rate
Others

Passengers

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

30.00
33.34
36.78
40.33
43.98
47.74
51.61
55.60
59.71
63.94
68.30
72.79
77.42
82.18
87.09
92.14
97.35
102.71
108.24
113.92
119.78
125.82
132.03
138.44
145.03
151.82
158.82
166.02
173.45
181.09
188.96
197.07
205.43
214.03
222.89
232.02

19.50
22.84
26.28
29.83
33.48
37.24
41.11
45.10
49.21
53.44
57.80
62.29
66.92
71.68
76.59
81.64
86.85
92.21
97.74
103.42
109.28
115.32
121.53
127.94
134.53
141.32
148.32
155.52
162.95
170.59
178.46
186.57
194.93
203.53
212.39
221.52

6.00
9.34
12.78
16.33
19.98
23.74
27.61
31.60
35.71
39.94
44.30
48.79
53.42
58.18
63.09
68.14
73.35
78.71
84.24
89.92
95.78
101.82
108.03
114.44
121.03
127.82
134.82
142.02
149.45
157.09
164.96
173.07
181.43
190.03
198.89
208.02

CPI
CPI

CPI
128.10
131.94
135.90
139.98
144.18
148.50
152.96
157.55
162.27
167.14
172.16
177.32
182.64
188.12
193.76
199.58
205.56
211.73
218.08
224.62
231.36
238.30
245.45
252.82
260.40
268.21
276.26
284.55
293.08
301.88
310.93
320.26
329.87
339.76
349.96
360.46
371.27
382.41
393.88
405.70
417.87

75% of CPI
3.84
3.96
4.08
4.20
4.33
4.46
4.59
4.73
4.87
5.01
5.16
5.32
5.48
5.64
5.81
5.99
6.17
6.35
6.54
6.74
6.94
7.15
7.36
7.58
7.81
8.05
8.29
8.54
8.79
9.06
9.33
9.61
9.90
10.19
10.50
10.81
11.14
11.47
11.82
12.17

2.88
2.97
3.06
3.15
3.24
3.34
3.44
3.54
3.65
3.76
3.87
3.99
4.11
4.23
4.36
4.49
4.63
4.76
4.91
5.05
5.21
5.36
5.52
5.69
5.86
6.03
6.22
6.40
6.59
6.79
7.00
7.21
7.42
7.64
7.87
8.11
8.35
8.60
8.86
9.13

Toll Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

33,559,168.52
54,186,986.44
69,844,619.97
87,100,978.19
106,090,225.67
126,956,972.58
149,857,060.62
174,958,407.19
202,441,911.88
232,502,430.15
265,349,818.87
301,210,059.14
340,326,462.05
382,960,963.41
429,395,514.10
479,933,572.82
534,901,709.11
594,651,324.39
659,560,499.89
730,035,980.67
806,515,305.84
889,469,095.52
979,403,506.23
1,076,862,866.93
1,182,432,509.01
1,296,741,804.45
1,420,467,427.49
1,554,336,856.06
1,699,132,130.61
1,855,693,889.40
2,024,925,700.16
2,207,798,710.25
2,405,356,638.41
2,618,721,133.31
2,849,097,525.66
3,097,781,002.98

CPI increase Rate:

(Base year)

3%

Year
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032

CPI

CPI
128.10
131.94
135.90
139.98
144.18
148.50
152.96
157.55
162.27
167.14
172.16
177.32
182.64
188.12
193.76
199.58
205.56
211.73
218.08
224.62
231.36
238.30
245.45
252.82
260.40
268.21
276.26
284.55
293.08
301.88
310.93
320.26
329.87
339.76
349.96
360.46
371.27
382.41
393.88
405.70
417.87

3.84
3.96
4.08
4.20
4.33
4.46
4.59
4.73
4.87
5.01
5.16
5.32
5.48
5.64
5.81
5.99
6.17
6.35
6.54
6.74
6.94
7.15
7.36
7.58
7.81
8.05
8.29
8.54
8.79
9.06
9.33
9.61
9.90
10.19
10.50
10.81
11.14
11.47
11.82
12.17

75% of CPI
2.88
2.97
3.06
3.15
3.24
3.34
3.44
3.54
3.65
3.76
3.87
3.99
4.11
4.23
4.36
4.49
4.63
4.76
4.91
5.05
5.21
5.36
5.52
5.69
5.86
6.03
6.22
6.40
6.59
6.79
7.00
7.21
7.42
7.64
7.87
8.11
8.35
8.60
8.86
9.13

Year

Commercial
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032

187986
197385
207255
217617
272022
285623
299904
314899
330644
347176
364535
382762
401900
421995
443095
465249
488512
512937
538584
565513
593789
623479
654652
687385
721754
757842
795734
835521
877297
921162
967220
1015581
1066360
1119678
1175662
1234445
1296167
1360975
1429024

Traffic
Others

674156
700448
727766
756148
936868
973406
1011369
1050812
1091794
1134374
1178614
1224580
1272339
1321960
1373516
1427083
1482740
1540567
1600649
1663074
1727934
1795323
1865341
1938089
2013675
2092208
2173804
2258582
2346667
2438187
2533276
2632074
2734725
2841379
2952193
3067329
3186955
3311246
3440384

Passengers

1820332
1893145
1968871
2047626
2539056
2640618
2746243
2856093
2970337
3089150
3212716
3341225
3474874
3613869
3758423
3908760
4065111
4227715
4396824
4572697
4755605
4945829
5143662
5349408
5563385
5785920
6017357
6258051
6508373
6768708
7039456
7321035
7613876
7918431
8235168
8564575
8907158
9263444
9633982

Commercial

Toll Rate
Others

Passengers

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

30.00
33.34
36.78
40.33
43.98
47.74
51.61
55.60
59.71
63.94
68.30
72.79
77.42
82.18
87.09
92.14
97.35
102.71
108.24
113.92
119.78
125.82
132.03
138.44
145.03
151.82
158.82
166.02
173.45
181.09
188.96
197.07
205.43
214.03
222.89
232.02

19.50
22.84
26.28
29.83
33.48
37.24
41.11
45.10
49.21
53.44
57.80
62.29
66.92
71.68
76.59
81.64
86.85
92.21
97.74
103.42
109.28
115.32
121.53
127.94
134.53
141.32
148.32
155.52
162.95
170.59
178.46
186.57
194.93
203.53
212.39
221.52

6.00
9.34
12.78
16.33
19.98
23.74
27.61
31.60
35.71
39.94
44.30
48.79
53.42
58.18
63.09
68.14
73.35
78.71
84.24
89.92
95.78
101.82
108.03
114.44
121.03
127.82
134.82
142.02
149.45
157.09
164.96
173.07
181.43
190.03
198.89
208.02

CPI
CPI

CPI
128.10
131.94
135.90
139.98
144.18
148.50
152.96
157.55
162.27
167.14
172.16
177.32
182.64
188.12
193.76
199.58
205.56
211.73
218.08
224.62
231.36
238.30
245.45
252.82
260.40
268.21
276.26
284.55
293.08
301.88
310.93
320.26
329.87
339.76
349.96
360.46
371.27
382.41
393.88
405.70
417.87

75% of CPI
3.84
3.96
4.08
4.20
4.33
4.46
4.59
4.73
4.87
5.01
5.16
5.32
5.48
5.64
5.81
5.99
6.17
6.35
6.54
6.74
6.94
7.15
7.36
7.58
7.81
8.05
8.29
8.54
8.79
9.06
9.33
9.61
9.90
10.19
10.50
10.81
11.14
11.47
11.82
12.17

2.88
2.97
3.06
3.15
3.24
3.34
3.44
3.54
3.65
3.76
3.87
3.99
4.11
4.23
4.36
4.49
4.63
4.76
4.91
5.05
5.21
5.36
5.52
5.69
5.86
6.03
6.22
6.40
6.59
6.79
7.00
7.21
7.42
7.64
7.87
8.11
8.35
8.60
8.86
9.13

Toll Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

33,559,168.52
54,186,986.44
69,844,619.97
87,100,978.19
106,090,225.67
126,956,972.58
149,857,060.62
174,958,407.19
202,441,911.88
232,502,430.15
265,349,818.87
301,210,059.14
340,326,462.05
382,960,963.41
429,395,514.10
479,933,572.82
534,901,709.11
594,651,324.39
659,560,499.89
730,035,980.67
806,515,305.84
889,469,095.52
979,403,506.23
1,076,862,866.93
1,182,432,509.01
1,296,741,804.45
1,420,467,427.49
1,554,336,856.06
1,699,132,130.61
1,855,693,889.40
2,024,925,700.16
2,207,798,710.25
2,405,356,638.41
2,618,721,133.31
2,849,097,525.66
3,097,781,002.98

with no 20% increase in 1998

Year

Commercial
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032

187986
197385
207255
217617
228498
239923
251919
264515
277741
291628
306209
321520
337596
354475
372199
390809
410350
430867
452410
475031
498782
523722
549908
577403
606273
636587
668416
701837
736929
773775
812464
853087
895742
940529
987555
1036933
1088780
1143219
1200380

Traffic
Others

674156
700448
727766
756148
785638
816278
848113
881189
915556
951262
988362
1026908
1066957
1108568
1151803
1196723
1243395
1291888
1342271
1394620
1449010
1505521
1564237
1625242
1688626
1754483
1822908
1894001
1967867
2044614
2124354
2207204
2293284
2382723
2475649
2572199
2672515
2776743
2885036

Passengers

1820332
1893145
1968871
2047626
2129531
2214712
2303301
2395433
2491250
2590900
2694536
2802317
2914410
3030987
3152226
3278315
3409448
3545826
3687659
3835165
3988572
4148114
4314039
4486601
4666065
4852707
5046815
5248688
5458636
5676981
5904060
6140223
6385832
6641265
6906915
7183192
7470520
7769341
8080114

Commercial

Toll Rate
Others

Passengers

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

30.00
33.34
36.78
40.33
43.98
47.74
51.61
55.60
59.71
63.94
68.30
72.79
77.42
82.18
87.09
92.14
97.35
102.71
108.24
113.92
119.78
125.82
132.03
138.44
145.03
151.82
158.82
166.02
173.45
181.09
188.96
197.07
205.43
214.03
222.89
232.02

19.50
22.84
26.28
29.83
33.48
37.24
41.11
45.10
49.21
53.44
57.80
62.29
66.92
71.68
76.59
81.64
86.85
92.21
97.74
103.42
109.28
115.32
121.53
127.94
134.53
141.32
148.32
155.52
162.95
170.59
178.46
186.57
194.93
203.53
212.39
221.52

6.00
9.34
12.78
16.33
19.98
23.74
27.61
31.60
35.71
39.94
44.30
48.79
53.42
58.18
63.09
68.14
73.35
78.71
84.24
89.92
95.78
101.82
108.03
114.44
121.03
127.82
134.82
142.02
149.45
157.09
164.96
173.07
181.43
190.03
198.89
208.02

CPI
CPI

CPI
128.10
131.94
135.90
139.98
144.18
148.50
152.96
157.55
162.27
167.14
172.16
177.32
182.64
188.12
193.76
199.58
205.56
211.73
218.08
224.62
231.36
238.30
245.45
252.82
260.40
268.21
276.26
284.55
293.08
301.88
310.93
320.26
329.87
339.76
349.96
360.46
371.27
382.41
393.88
405.70
417.87

75% of CPI
3.84
3.96
4.08
4.20
4.33
4.46
4.59
4.73
4.87
5.01
5.16
5.32
5.48
5.64
5.81
5.99
6.17
6.35
6.54
6.74
6.94
7.15
7.36
7.58
7.81
8.05
8.29
8.54
8.79
9.06
9.33
9.61
9.90
10.19
10.50
10.81
11.14
11.47
11.82
12.17

2.88
2.97
3.06
3.15
3.24
3.34
3.44
3.54
3.65
3.76
3.87
3.99
4.11
4.23
4.36
4.49
4.63
4.76
4.91
5.05
5.21
5.36
5.52
5.69
5.86
6.03
6.22
6.40
6.59
6.79
7.00
7.21
7.42
7.64
7.87
8.11
8.35
8.60
8.86
9.13

Toll Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

33,559,168.52
45,456,061.60
58,589,578.29
73,064,104.97
88,992,180.80
106,495,107.06
125,703,606.44
146,758,531.13
169,811,623.27
195,026,331.72
222,578,689.12
252,658,253.79
285,469,121.19
321,231,010.03
360,180,428.55
402,571,926.81
448,679,441.38
498,797,739.04
553,243,966.99
612,359,317.24
676,510,813.51
746,093,229.77
821,531,150.02
903,281,179.57
991,834,319.12
1,087,718,513.46
1,191,501,387.52
1,303,793,183.81
1,425,249,915.62
1,556,576,752.14
1,698,531,652.40
1,851,929,266.14
2,017,645,121.45
2,196,620,120.03
2,389,865,362.68
2,598,467,329.33

with 10% increase in 1998

Year

Commercial
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032

187986
197385
207255
217617
250260
262773
275912
289707
304193
319402
335372
352141
369748
388235
407647
428030
449431
471903
495498
520273
546286
573601
602281
632395
664014
697215
732076
768680
807114
847469
889843
934335
981052
1030104
1081609
1135690
1192474
1252098
1314703

Traffic
Others

674156
700448
727766
756148
861253
894842
929741
966001
1003675
1042818
1083488
1125744
1169648
1215264
1262659
1311903
1363067
1416227
1471460
1528847
1588472
1650422
1714789
1781665
1851150
1923345
1998356
2076292
2157267
2241400
2328815
2419639
2514005
2612051
2713921
2819764
2929735
3043994
3162710

Passengers

1820332
1893145
1968871
2047626
2334294
2427666
2524772
2625763
2730794
2840026
2953627
3071772
3194643
3322428
3455325
3593538
3737280
3886771
4042242
4203932
4372089
4546972
4728851
4918005
5114726
5319315
5532087
5753371
5983506
6222846
6471760
6730630
6999855
7279849
7571043
7873885
8188840
8516394
8857050

Commercial

Toll Rate
Others

Passengers

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

30.00
33.34
36.78
40.33
43.98
47.74
51.61
55.60
59.71
63.94
68.30
72.79
77.42
82.18
87.09
92.14
97.35
102.71
108.24
113.92
119.78
125.82
132.03
138.44
145.03
151.82
158.82
166.02
173.45
181.09
188.96
197.07
205.43
214.03
222.89
232.02

19.50
22.84
26.28
29.83
33.48
37.24
41.11
45.10
49.21
53.44
57.80
62.29
66.92
71.68
76.59
81.64
86.85
92.21
97.74
103.42
109.28
115.32
121.53
127.94
134.53
141.32
148.32
155.52
162.95
170.59
178.46
186.57
194.93
203.53
212.39
221.52

6.00
9.34
12.78
16.33
19.98
23.74
27.61
31.60
35.71
39.94
44.30
48.79
53.42
58.18
63.09
68.14
73.35
78.71
84.24
89.92
95.78
101.82
108.03
114.44
121.03
127.82
134.82
142.02
149.45
157.09
164.96
173.07
181.43
190.03
198.89
208.02

CPI
CPI

CPI
128.10
131.94
135.90
139.98
144.18
148.50
152.96
157.55
162.27
167.14
172.16
177.32
182.64
188.12
193.76
199.58
205.56
211.73
218.08
224.62
231.36
238.30
245.45
252.82
260.40
268.21
276.26
284.55
293.08
301.88
310.93
320.26
329.87
339.76
349.96
360.46
371.27
382.41
393.88
405.70
417.87

75% of CPI
3.84
3.96
4.08
4.20
4.33
4.46
4.59
4.73
4.87
5.01
5.16
5.32
5.48
5.64
5.81
5.99
6.17
6.35
6.54
6.74
6.94
7.15
7.36
7.58
7.81
8.05
8.29
8.54
8.79
9.06
9.33
9.61
9.90
10.19
10.50
10.81
11.14
11.47
11.82
12.17

2.88
2.97
3.06
3.15
3.24
3.34
3.44
3.54
3.65
3.76
3.87
3.99
4.11
4.23
4.36
4.49
4.63
4.76
4.91
5.05
5.21
5.36
5.52
5.69
5.86
6.03
6.22
6.40
6.59
6.79
7.00
7.21
7.42
7.64
7.87
8.11
8.35
8.60
8.86
9.13

Toll Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

33,559,168.52
49,821,533.42
64,217,111.06
80,082,556.30
97,541,221.03
116,726,061.01
137,780,358.47
160,858,498.20
186,126,801.14
213,764,419.46
243,964,297.95
276,934,206.37
312,897,848.03
352,096,050.26
394,788,042.64
441,252,829.64
491,790,664.33
546,724,630.91
606,402,343.66
671,197,771.17
741,513,194.96
817,781,312.15
900,467,493.09
990,072,205.03
1,087,133,614.12
1,192,230,378.86
1,305,984,648.97
1,429,065,284.80
1,562,191,313.37
1,706,135,638.58
1,861,729,023.96
2,029,864,368.27
2,211,501,295.12
2,407,671,079.90
2,619,481,938.63
2,848,124,705.26

Year

Commercial
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2031
2031

187986
197385
207255
217617
228498
285623
299904
314899
330644
347176
364535
382762
401900
421995
443095
465249
488512
512937
538584
565513
593789
623479
654652
687385
721754
757842
795734
835521
877297
921162
967220
1015581
1066360
1119678
1175662
1234445
1296167
1360975
1429024
1500475

Traffic
Others

674156
700448
727766
756148
785638
973406
1011369
1050812
1091794
1134374
1178614
1224580
1272339
1321960
1373516
1427083
1482740
1540567
1600649
1663074
1727934
1795323
1865341
1938089
2013675
2092208
2173804
2258582
2346667
2438187
2533276
2632074
2734725
2841379
2952193
3067329
3186955
3311246
3440384
3574559

Passengers

1820332
1893145
1968871
2047626
2129531
2640618
2746243
2856093
2970337
3089150
3212716
3341225
3474874
3613869
3758423
3908760
4065111
4227715
4396824
4572697
4755605
4945829
5143662
5349408
5563385
5785920
6017357
6258051
6508373
6768708
7039456
7321035
7613876
7918431
8235168
8564575
8907158
9263444
9633982
10019342

Commercial

Toll Rate
Others

Passengers

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

30.00
33.44
36.99
40.64
44.40
48.27
52.26
56.37
60.60
64.96
69.45
74.08
78.84
83.75
88.80
94.01
99.37
104.89
110.58
116.44
122.48
128.69
135.09
141.69
148.48
155.48
162.68
170.10
177.75
185.62
193.73
202.09
210.69
219.55
228.68
238.08

19.50
22.94
26.49
30.14
33.90
37.77
41.76
45.87
50.10
54.46
58.95
63.58
68.34
73.25
78.30
83.51
88.87
94.39
100.08
105.94
111.98
118.19
124.59
131.19
137.98
144.98
152.18
159.60
167.25
175.12
183.23
191.59
200.19
209.05
218.18
227.58

6.00
9.44
12.99
16.64
20.40
24.27
28.26
32.37
36.60
40.96
45.45
50.08
54.84
59.75
64.80
70.01
75.37
80.89
86.58
92.44
98.48
104.69
111.09
117.69
124.48
131.48
138.68
146.10
153.75
161.62
169.73
178.09
186.69
195.55
204.68
214.08

CPI
CPI

CPI
128.10
131.94
135.90
139.98
144.18
148.50
152.96
157.55
162.27
167.14
172.16
177.32
182.64
188.12
193.76
199.58
205.56
211.73
218.08
224.62
231.36
238.30
245.45
252.82
260.40
268.21
276.26
284.55
293.08
301.88
310.93
320.26
329.87
339.76
349.96
360.46
371.27
382.41
393.88
405.70
417.87
430.40

75% of CPI
3.84
3.96
4.08
4.20
4.33
4.46
4.59
4.73
4.87
5.01
5.16
5.32
5.48
5.64
5.81
5.99
6.17
6.35
6.54
6.74
6.94
7.15
7.36
7.58
7.81
8.05
8.29
8.54
8.79
9.06
9.33
9.61
9.90
10.19
10.50
10.81
11.14
11.47
11.82
12.17
12.54

2.88
2.97
3.06
3.15
3.24
3.34
3.44
3.54
3.65
3.76
3.87
3.99
4.11
4.23
4.36
4.49
4.63
4.76
4.91
5.05
5.21
5.36
5.52
5.69
5.86
6.03
6.22
6.40
6.59
6.79
7.00
7.21
7.42
7.64
7.87
8.11
8.35
8.60
8.86
9.13
9.40

Toll Revenue

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

34,952,075.55
56,814,660.97
73,543,529.72
91,983,837.82
112,279,318.54
134,584,900.58
159,067,550.79
185,907,179.08
215,297,610.47
247,447,628.94
282,582,098.51
320,943,167.15
362,791,559.60
408,407,965.71
458,094,531.15
512,176,458.24
571,003,724.75
634,952,929.45
704,429,273.76
779,868,689.33
861,740,122.41
950,547,986.42
1,046,834,795.15
1,151,183,989.71
1,264,222,973.62
1,386,626,371.12
1,519,119,525.24
1,662,482,253.16
1,817,552,877.66
1,985,232,555.06
2,166,489,921.31
2,362,366,079.54
2,573,979,954.27
2,802,534,039.03
3,049,320,566.30
3,315,728,130.84