Spring Time, a maker of air fresheners, bought advertising space on a billboard near a busy sidewalk. On the first day the ad was up, 9,500 people, some in cars and some on foot, passed the billboard. On average they passed it 2.0 times. Over the month the billboard will be devoted to Spring Time, it is expected to deliver a total of 325,000 impressions at a cost of $9,800. During the same month, Spring Time is also investing in 30 daily TV spots on home improvement cable shows at a total cost of $19,000 that are expected to deliver 275,000 impressions.

What will be the monthly CPM for Spring Time considering both the billboard and TV campaigns?