The basement of a building on Penn State's campus contains a large quantity of experimental samples and live animals used for research purposes, however the building sits within an area with a high water table that causes constant water infiltration into the building. The building has an active water pumping system to prevent inundation into the basement. There is a pump system that operates when water infiltration occurs to keep the basement dry. Penn State is considering the installation of a switch and standby backup pump to add to the primary pump. If flooding of the basement is valued at $2 million, and the switch has a reliability of 0.975, the primary and backup pumps each have reliabilities of 0.95, how much should Penn State be willing to pay for the backup pump and switch together to add that capability to the existing single pump system?