A company is researching mining at four different land areas using different types of equipment. The table below shows the costs
of land, equipment, mining, and reclamation for the four locations: Locations
Cost of land
Cost of equipment
Cost of mining and reclamation
Time taken to mine the area
1
$100,000
$10,000
$5,000 per day
30 days
2
$35,000
$6,000
$4,500 per day
45 days
3
$30,000
$7,500
$3,500 per day
120 days
4
$40,500
$8,000
$7,000 per day
65 days
Which location will cost the least for mining and reclamation at the end of the mining period?
