A project budget amounting to $4,000,000, calculated with a R.O.M ranging from -50% to +75% has been submitted to management for approval. The budget includes a contingency reserve of $1,000,000 and a management reserve of $50,000. However, the management has informed the project manager to calculate the R.O.M on the total cost estimates, rather than on the total budget. In view of this, what is the R.O.M of the total cost estimates. 

a. $2,000,000 to $7,000,000 

b. $1,500,000 to $5,250,000 

c. $1,975,000 to $6,912,500 

d. $1,475,000 to $5,162,500

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