Question

The installation cost of a 20 m3 (cubic meter) stainless- steel tank in 1975 was $5000. The tank is cylindrical with flat top and bottom, and the diameter is 6 m. If the entire outer surface of the tank is to be covered with 2-in. thickness of Magnesia block, estimated the present total cost for the insulated tank at 1980. The cost for the 2-in. magnesia block was $1.40 per m2 (square meter) while the labor for installing the insulation was $3.00 per m2 ? (square meter) (1980) Cost Index TABLE 3 Cost indexes as annual averages 503 540 582 630 281 239 Marshall al Swift Chemical Installed equipment Nelson-Farrar engineering Eng. Record Indexes, 1926 = 100 refinery plant cost construction Index construction Index All Process 1913 1949 1967 index, 1957-1959 Year industry industry - 100 - 100 - 100 1946 - 100 - loo 1975 444 452 2412 464 207 576 182 1976 472 479 2401 224 616 192 1977 505 514 2576 241 653 204 1978 545 552 2776 259 701 219 1979 599 607 3003 757 1980 560 675 3237 679 823 261 1981 721 745 3535 741 330 904 297 1982 746 774 3825 802 357 977 314 1983 761 786 4066 852 380 1026 317 1984 780 806 1146 869 387 1061 323 1985 790 813 4195 879 392 1074 325 1986 798 817 4295 900 401 1090 318 1987 814 830 4406 924 412 1122 324 1988 852 870 4519 947 422 1165 343 1989 895 914 4606 965 429 1191 355 1990 Can.) 9041 924 4673 979 435 1203 356 303 All costs presented in this text are based on this value of the Marshall and Swift index unless otherwise indicated.

Engineering economics
I need a solution within half an hour

Answer 1

of 20m3 * The installation cost stainless steel tank in 1975 $5000 lost index in 1975 for Process industry cost index en 1980 for process dudustry = 675 452 en а 01 n ES d : installation cost of 20m3 stank in 1980 = $5000 x 675 452 $ 7466.8 Totallation. The cost the tank en 1980 = $7466.8 - се es of Ans es ti

(6) Volume of tank = 2om3 diametere = 6m New, volume of cylindrical tank es given by 70²H 4 here, D= diameter, H= height. to, volume 2om3 = TD²H 4 or H = 2004 -0.7073 mi TX62 Height = 0.7073m. © Susface area the tank = TDH + TD2 2 - TX6X0.7073+ T 6 2 surface area of tank = there in Cost insulation = $1.40 pere m2 x. $97.846 @ Labor cost for inculation = $3.0 perc m2 x cam2 520. $209.67 so total cost of insulation = $97.846+ $209.67 = $307,516. 2 69.89 m2 tie of Aus. 69.89 Any Total cost tank in 1980 = $7466.8+ $ 307.516 =$7774.2 Total cost of bank = $7774.2 Aus.