A city has decided to build a softball complex and the city council has already voted to fund the project at the level of $800,000 (initial capital equipment). The city engineer has collected the following financial information for the complex project
Annual upkeep costs: $120,000
Annual utility costs: $13,000
Renovation costs: $50,000 for every five years
Annual team user fees (revenues): $32,000
Useful life: Infinite
Interest rate: 8% compounded annually
If the city can expect 35,000 visitors to the complex each year, what should be the minimum ticket price per person so that the city can break even?