A new faculty member at the local university pays $2,100 per month to rent an apartment in the downtown area. She teaches on campus 3 days a week and works from home the remaining day. On the days in which she must commute, given the heavy traffic congestion, it takes her 2 hours to commute from downtown to campus. According to the assumptions of the bid-rent model, what should this professor be willing to pay in rent per month to live near campus if her hourly wage rate is $60? (In your calculations, assume there are 4 weeks in a given month). Must show all work.