An underground airway is driven at a capital cost of $1.15 million. In its eight year life it is planned to pass an airflow of 1080 m3 /s at a frictional pressure drop of 720 Pa. The main fans operate at an efficiency of 87%. The annual interest rate is 7% and the average cost of power is $1.25 per kWh, determine the annual cost of owning and operating the airway. (Hint air power = pressure x air quantity)