From the following list of costs, calculate the amount of contingent environmental costs.

Equipment purchased to reduce emissions $ 200 000

Monitoring emissions $ 50 000

Estimated fines for breaching environmental regulations $ 500 000

Estimated future costs-the need to dispose of firm's products which contain hazardous material 550 000

Purchase of recyclable material $ 130 000

On-going clean-up costs $ 300 000

3

Estimate of potential liability-oil spill $ 600 000

Purchase of recyclable packaging materials $ 25 000

Estimate of lost business-adverse television publicity $ 110 000