You want to run a banner advertising campaign for your business Yourportal.com on the home page of the Website Yourportal.com. has given you two payment alternatives to choose from: 1) A CPM of $50, or 2) A PPC system where you choose to bid how much you want to pay per click. You find out that Yourportal.com's home page attracts 1,200,000 impressions (i.e., visits) per month, and your banner ad would get a click-ratio of 4%. How much would you bid for payment on a PPC basis, if your total monthly advertising bill is to be the same as what you would pay on a CPM basis, given the above information?