A town want to replace an existing bridge that cost $5000 annually in an operation and maintenance has a remaining useful life of 20yrs. The new bridge will cost $500000 for construction and an additional $2000 for manual operation. The new bridge is expected to have a useful life of 50yrs. Thus, extending the life by 30yrs if interest rate is 8% single payment present worth of 20yrs is what?

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