The delivered equipment cost for setting up a production and assembly line for two-way floating ball valves is $650,000. If the direct cost and indirect cost factors are 1.82 and 0.31, respectively, and only the direct cost factor applies to delivered equipment cost, the total plant cost estimate is approximately:

(a) $2,034,500

(b) $2,401,230

(c) $2,684,500

(d) $2,983,000