[7] A new high school is to be constructed in Al-Khobar two years from now with a proposed capacity of 450 students. The owner built a similar type of school for 9,397,500 SR three years ago in Riyadh but with a smaller capacity of 350 students. The new school has an advanced science lab that cost an additional 1,055,000 SR. Assume that the location index of AlKhobar is 4% above the national average while Riyadh has an index of 115. Using a simple yearly inflation rate of 2.5%, what is the estimated cost for constructing the new school? (show all steps and calculations)