Bunch Company is considering the production of a new product. Bunch Company has the following data available:

Expected product life 4 years Expected sales (units) over product life 2,000 Variable production costs $42 per unit Variable selling costs $16 per unit Annual fixed production costs $15,000 Annual fixed selling costs $5,000 Research and development costs $184,000

What is the total cost of the product over the product life cycle?