A tent is in the shape of a cylinder surmounted by a conical top. If the height and radius of the cylindrical part are 3 m and 14 m respectively, and the total height of the tent is 13.5 m, find the area of the canvas required for making the tent, keeping a provision of 26 `m^2` of canvas for stitching and wastage. Also, find the cost of the canvas to be purchased at the rate of Rs. 500 per `m^2`.