A contractor estimates that a piece of equipment he is using will cost a total of 50,000 for the year. He estimates that the piece of equipment will be used 2,000 hours during that year. A project will require using the equipment for 80 hours total, how much would the estimated project equipment cost be for the project?

A contractor estimates that a piece of equipment he is using will cost a total of 50,000 for the year. He estimates that the piece of equipment will be used 2,000 hours during that year. A project will require using the equipment for 80 hours total, how much would the estimated project equipment cost be for the project?