In order to induce its managers to attend to both the financial and the non-financial factors that are important determinants of the firms long-run performance, SPECTRE, a chemical manufacturer, uses a balanced scorecard approach to provide incentives for its senior management. Accordingly, for 2020, the bonus to be paid to the firms CEO is to be determined as follows:

	Weight	Min.	Target	Max.
Profit Margin (PM)	40%	6%	10%	15%
Investment Turnover (IT)	15%	2.0	2.5	3.0
Pollution Index (PI)	45%	80	65	40
Bonus as a % of Base Salary (Bonus %)		10%	30%	60%

For 2020, the CEOs base salary is $300,000.

At the beginning of 2020, SPECTREs CEO, Ernst Blofeld, expects that the firm will hit each bonus target.

At the beginning of the year Blofeld was presented with a proposal to invest in a new pollution abatement technology that would result in a 15% reduction in its pollution index and a 10% decrease in investment turnover.

What would Blofelds total compensation be if he decides to invest in the new technology?