Gum and Heart Disease There is new evidence showing that individuals suffering from gum disease are at a significantly higher risk of heart disease than individuals without gum disease. In particular, gum disease increases the risk of dying from heart disease by one-tenth of one percent (i.e. 0.001). Periodontal treatment can eliminate gum disease at a cost of $1,300. Consider a male individual, 55 years of age, with gum disease but otherwise in good health. Suppose this individual values his life at $1.5 million. In addition, he earns $85,000 a year in salary, is expected to work another 15 years, and discounts future consumption at 2%. Directions: Use the information above to answer the questions below. QUESTIONS: 

1. How much would this individual be willing to pay for the periodontal treatment? NOTE: enter a calculation

2. How much would society value this individual getting periodontal treatment, assuming society's valuation is based on a human capital approach. NOTE: enter a numeric answer