The principal of the firm you are employed by has asked that you assist with setting an initial Project Budget for a large commercial project. You are provided the following information:
Square footage of building: 25,000 s.f.
Square footage of the site: 200,000 s.f.
Estimated construction cost: $250 / s.f.
Typical gross fee: 12% of construction costs
Consultant fees: 20% of gross fee
Contingency: 10% of gross fee
Direct expenses: 3% of gross fee
Calculate your estimated Design Project Labor Budget and choose the best answer.
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