Calculate the total cost of equipment to excavate 3000 cu.yd. of trench using a 3/4 cu. yd. backhoe costing $670.00 per day (assume 8 hours/day), plus $4000 for transportation and setup charges for equipment. Expected backhoe output is 60 cu. yd. per hour and managed by an operator and 50% of a labourer time at hourly wages of $40.00/hr. and $30.00/hr. respectively. Assume an equipment rental for fraction of a day will be charged at a full day cost.