We are planning a project and analyzing the following information:

• There is 15 % probability that the cost of materials will be $9,000 less than expected
• There is 20 % probability of a delay in the receipt of some parts, with a cost to the project of $9,000
• There is a 15% probability of a design defect, causing $ 7,000 of rework
• There is a 45 % probability that the construction of some activities may be simpler than expected , saving $1,500
• There is a 20% probability that two parts will not fit together when installed, costing an extra $1,000

Based on this information, what are the cost contingency reserves that we should use?