A Chinese official is considering construction of a lift system that transports visitors from the tops of the mountain peaks to the valley at the National Forest Parks in China. The lift system is expected to last for 45 years. Annual maintenance costs are expected to be $250,000. Moreover, inspection and repair costs of $40,000 every five years (up to year 40) are expected. Annual benefits are estimated to be $1,250,000. If an interest rate of 12% per year is used and a conventional B-C ratio of at least 1.X (using the PW method) is targeted, what is the maximum investment cost allowed for the lift system?