Colby Limited is a manufacturing company whose total factory overhead costs fluctuate somewhat from year to year, according to the number of machine-hours worked in its production facility. These costs at high and low levels of activity over recent years are given below Machine-hours Total factory overhead costs Level of Activity Lou 60,500 $34,179,000 High 80,500 $38,139,000 The factory overhead costs above consist of indirect materials, rent, and maintenance. The company has analyzed these costs at the 60,500 machine-hours level of activity as follows: Indirect materials (variable) Rent (fixed) Maintenance (mixed) Total factory overhead costs. $9,377,500 17,100,000 7,701,500 $34,179,000 For planning purposes, the company wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the factory overhead cost of $38.139,000 at the high level of activity consists of maintenance cost. Maintenance cost