A DOT is performing a benefit-cost analysis of a new highway using an analysis period of 40 years as part the required environmental impact assessment of the project. The section of highway is estimated to have a construction cost $260 million dollars. The public benefit in reduced travel time and economic development around the highway is estimated to be $17 million per year for the first 5 years, then decrease by 3% per year for the remainder of the 40 year analysis period as congestion grows and economic development slows. The public disbenefit is estimated to be $1.3 million dollars in year 0 due to additional congestion and pollution during construction and then average $170,000 per year over the 40-year project life in environmental costs due to increased runoff and vehicle emissions. Using an interest rate of 4%, determine the benefit-cost ratio for this project using public/government version of the B/C ratio. Express your answer to two decimal places. Please show the correct steps for this question