In a highway project 5 miles (8 kilometers) out of the total 15 miles (24 kilometers) have been completed. The BAC is $900,000. Which of the following represents the ETC of this project?

This value does not correctly represent the cost of the remaining two-thirds of the work based on the total budget.

This value represents one-third of the total budget, which would be the cost of the completed work, not the remaining work.

This value represents half of the total budget, not the cost of the remaining two-thirds of the work.

To determine the Estimate To Complete (ETC), we first calculate the proportion of work remaining. With 5 miles completed out of 15, there are 10 miles remaining (15 - 5 = 10). Assuming future work will be completed at the budgeted rate, the ETC is calculated as (Remaining Work / Total Work) * Budget At Completion (BAC), which is (10/15) * $900,000 = (2/3) * $900,000 = $600,000.