If the TPL did agree to fund all costs except the $3 million bond proceeds now available, determine the equivalent annual amount that must be raised

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If the TPL did agree to fund all costs except the $3 millionbond proceeds now available, determine the equivalentannual amount that must be raised in years 4through 6 to supply all remaining project funds. Assumethe TPL will not charge any extra interest over the 7% tothe state or city on the borrowed funds.

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