Last year your construction company built a 95,408 sf, five-story parking garage for $5,856,887. The parking garage included one elevator, which cost $129,541, and its costs are included in the $5,856,887.

Using this information, prepare a preliminary cost estimate for a 79,280 sf, five-story parking garage with 3 elevators. It is estimated that costs have risen 3.4 percent during the last year.