The Study of Sonar for Imaging of the Solid-Liquid Interface Inside Large Tanks

Retrieval, treatment, and disposal of high-level radioactive waste (HLW) is expected to cost between 100 and 300 billion dollars. The risk to workers, public health, and the environment are also a major area of concern for HLW. Visualization of the interface between settled solids and the optically opaque liquid is needed for retrieval of the waste from underground storage tanks. A Profiling sonar selected for this research generates 2-D image of the interface. Multiple experiments were performed to demonstrate the effectiveness of sonar in real-time monitoring the interface inside HLW tanks. First set of experiments demonstrated that objects shapes could be identified even when 30% of solids entrained in liquid, thereby mapping the interface. Simulation of sonar system validated these results. Second set of experiments confirmed the sonar’s ability in detecting the solids with density similar to the immersed liquid. Third set of experiments determined the affects of near by objects on image resolution. Final set of experiments proved the functional and chemical capabilities of sonar in caustic solution.

A Critical Review of the Implied Cost of Equity: A New Way to Estimate the Expected Return

For the last three decades, the Capital Asset Pricing Model (CAPM) has been a dominant model to calculate expected return. In early 1990% Fama and French (1992) developed the Fama and French Three Factor model by adding two additional factors to the CAPM. However even with these present models, it has been found that estimates of the expected return are not accurate (Elton, 1999; Fama &French, 1997). Botosan (1997) introduced a new approach to estimate the expected return. This approach employs an equity valuation model to calculate the internal rate of return (IRR) which is often called, 'implied cost of equity capital" as a proxy of the expected return. This approach has been gaining in popularity among researchers. A critical review of the literature will help inform hospitality researchers regarding the issue and encourage them to implement the new approach into their own studies.