The city government of Wilhelmshaven (a city on the German North Sea) plans a pipeline to connect the oil harbor with the Federal German Oil Reserve Facilities just outside the city. The initial project costs are estimated to be 21,000,000 for planning and obtaining necessary permissions. The construction costs in years 1 to 5 are estimated to be 13,000,000 each year. The pipeline will go into service in year six and is estimated to have an infinite life if an annual maintenance cost of 500,000 is assumed. Every ten years an overhaul is required. This overhaul is estimated to cost 1,200,000 . Calculate the capitalized cost for this project using a 5% interest rate