The annual utility bill at a hospital is $1.

Step 1: Calculate utility cost per square foot.

$1,200,000 ÷ 500,000 sq. ft. = $2.40 per sq. ft.

Step 2: Calculate new total square footage.

500,000 + 100,000 = 600,000 sq. ft.

Step 3: Projected utility cost.

600,000 × $2.40 = $1,440,000

Thus, the anticipated utility budget after expansion is $1,440,000.