A developer is considering including a private waste water treatment plant in a small residential development. The city requires the developer to provide funds to cover the construction cost of the plant and to cover the maintenance and operations costs in perpetuity. Construction costs are projected to be $320,000 dollars, and annual maintenance and operations costs are estimated to be $28,000. How much capital must the developer have on hand to satisfy the city's requirement at an interest rate of 5%? Express your answer in $ to the nearest $1,000.