The City of Hamilton is installing a new swimming pool at a park in Dundas. The construction of the pool will cost $350,000 and will have maintenance costs of $20,000 every 5-years. Assuming the pool will have an 'infinite' life, what is the equivalent present value of the total cost of the pool (i.e. - it's capitalized value...construction + maintenance)? The City uses a 4% annual interest rate for these calculations