XYZ Ltd. uses activity-based costing (ABC) to allocate overhead costs. The company identified two cost pools: machine-related costs and setup costs. If the total overhead costs for the year were $180,000, and the activity drivers and rates were as follows: 12,000 machine hours at $10 per hour and 300 setups at $600 per setup, calculate the overhead cost allocated to a product requiring 500 machine hours and 10 setups.