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With those hardware specs, the Advanced-1 Server Package is $169 a month with 512MB of RAM, Athlon 1.7, and two 40GB IDE drives (software mirror). This would be running Red Hat 8.0. We'd throw in a burstable connection allowing up to 50GB of data transfer per month (no extra charge).
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That is not even what he asked for. What is he gonna do with 50 GB?