Revenue Forecasting Memo.

You are a financial analyst for the fictional city of Evergreen, Washington. Evergreen is the major business and commercial center for Bonanza County and the surrounding region. As such, many people drive into the city for business, shopping, and recreation. The city has extensive on-street parking and has 2,200 paid parking spaces (either with parking meters or pay stations) in the downtown and commercial areas. The current rate for all spaces is $1.25 per hour. Rates were last increased on January 1, 2015, from $1.00 to $1.25 per hour. As a result, 2015 usage was 12 percent below 2014 levels, 2016 usage was 5.5 percent below 2014 levels, and usage in 2017 and subsequent years returned to 2014 levels. This pattern probably occurred as other parking options gradually became more expensive and as people adjusted to the new rates.Parking rates have stayed constant since 2015 for two reasons. First, downtown businesses have encouraged the city to maintain low rates in ord