Observations indicate that an excavator carries an average bucket load of 3.0 Lm per cycle. The soil being carried weighs 1471 kg/m loose and 1839 kg/m in-place. Excavator cycle time averages 0.5 minutes. A job efficiency factor of 0.75 is considered appropriate given the site and management conditions. Calculate the cost to excavate a volume of 2500m of bank material using this machine if its total operational cost is $220 per hour.