For this assignment, you will continue working on the WAG expansion project. The PM, project sponsor, and the Finance department have met and determined that 3 million US dollars is still the appropriate funding requirements to build the new plant in the UK over a 2-year time period. After meeting, the team determined the following breakdown for the allocation of costs:

• The budget will be $1.5 million per year
• 20% is allocated to salaries each year
• 50% is allocated to construction, upfitting, and purchase of land per year
• 20% is allocated for equipment purchases per year
• 10% is allocated for contingency reserve per year