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Chip seal products can be installed over gravel roads to eliminate the cost of grading, road roughness, dust, mud, and the cost of adding gravel lost from grading. Adding chip seal over gravel is about 25% of the price of resurfacing with asphalt, $170,000 for a 4-mile project done in Minnesota [6] compared to $760,000 had it been redone with ...
It is widely used in industrial engineering to calculate the capital and operating costs of a plant. [1] [2] [3] The factors were introduced by H. J. Lang and Dr Micheal Bird in Chemical Engineering magazine in 1947 as a method for estimating the total installation cost for plants and equipment.
In addition to repair costs, the condition of a road surface has economic effects for road users. Rolling resistance increases on rough pavement, as does wear and tear of vehicle components. It has been estimated that poor road surfaces cost the average US driver $324 per year in vehicle repairs, or a total of $67 billion.
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Permeable paving systems, specifically pervious concrete pavers, have shown significant cost benefits after a Life Cycle Assessment was performed, as the reduction in total weight of material needed for each unit is reduced by nature of the porous design.
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Estimating the cost savings required to justify the purchase of new equipment. [13] Determining the cost of continuing with existing equipment. [14] Where an asset undergoes a major overhaul, and the cost is not fully reflected in salvage values, to calculate the optimum life (i.e., lowest EAC) of holding on to the asset. [15]
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