A rural 2-lane road can be surfaced with concrete for $2.3 million per mile. If signing, mowing, and winter maintenance are not included, the basic mainte­nance costs for concrete and asphalt roadways are $483 and $774 per mile per year, respectively. If concrete lasts 20 years, what is the maximum amount that should be spent on asphalt that will last only 10 years? Use an interest rate of 8% per year.

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