Costing of absorber

Bare cost can be calculated by using this figure

Equipment Cost in 2004= Bare Cost Material Factor
Pressure Factor
By using the conditions, the cost can be calculated as
Bare cost = 22000 $
For carbon steel, material factor = 1
Pressure factor 1-5 bar *1.0
So
Equipment Cost in 2004 = 22000*1*1 = 22000 $

= 22000*(553/444)
= 27400 $
Volume of packing = 11.73*0.8 = 9.38 m3
Cost of packing = 377$ / m3
= 377$ / m3 *9.38 m3 = 3537$
Total cost of absorber = 3537+27400 = 30937.76 $