Geoffrey Pannell is a professional researcher. He has been commissioned to conduct research into allegations that mobile phones are bad for public health. Geoffrey estimates that the project will require 200 hours of his time, which he charges at $100 per hour. He will also require the services of Susan, his research assistant, for 100 hours at $60 per hour. Overheads are recovered at the rate of $40 per labour hour. 

Required 

Prepare a statement to show the amount Geoffrey will charge for carrying out this research.