Platinum

A.C. = w₀L_hS_f Labour ✦13,240 Shadow wage w₀ ✦16 an hour × L_h 300 hours per tonne × skill factor S_f 2.76 S_f for energy: training ✦60,000 against ✦45,000, queue 30 hours against 48 + Σ q_iP_irλ_i Materials ✦0 A raw material, with no recipe inputs. + (D + M_o)α_e Capital ✦11.6 m Depreciation and maintenance ✦8 m per tonne × financing 1.45 × waste factor α_e 1.00 Financing is interest at 6% on equipment's average value over a 15-year life. α_e is 1.00 when maintenance hours and defects are on target. + Ep_e Energy ✦10,000 E 200,000 kWh per tonne × p_e ✦0.05 per kWh = ✦11.6 m

A.V. = rP*_world Accounted value ✦24.2 m per tonne World price $16,000,000 per tonne plus freight and insurance 1% = P* $16,160,000 × r 1.5 crowns per US dollar Import parity: the price at the Commonwealth border for a good it could otherwise import. Observed abroad, not calculated: a wasteful producer raises only its own cost. = ✦24.2 m

Revenue = A.V. × Q Accounted revenue ✦6.81 m p.a. Domestic: 281 kg × ✦24.2 m = ✦6.81 m = ✦6.81 m

Surplus = (A.V. − A.C.) × Q − levies Accounted surplus ✦3.54 m p.a. Revenue ✦6.81 m − cost ✦11.6 m × 281 kg = ✦3.55 m Distributed 40% to reinvestment, 20% to the municipal aggregate and 40% swept to the Treasury. = ✦3.54 m