Your corporation plans to build a new road to remote mining site with the cost structure shown in the Table below. You plan to finance the project through a capital loan from a bank at an interest rate of 6 %, compounded semi-annually. The capital loan must pay for the project in perpetuity. If you plan to repay the loan in equal monthly payments in perpetuity, determine the amount of the monthly payment. Initial Cost Road Project $500,000 35,000 $350,000 Annual Maintenance Periodic Resurfacing Resurfacing interval 10 years