A certain vendor estimates the cost of vertical drums made from stainless steel as a function of the volume (V) of the cylindrical portion of the drum and the diameter (d) of the end pieces. The cost function is Cost($) = aV^0.8 + bd^0.3 where V is in ft³ and d is in ft. Your company has purchased two such drums in the past, and the information is given in Table P7.15. Estimate the cost when CEPCI = 550 of a 5 ft diameter and 12 ft tall drum.

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Table P7.15 Size and Cost Data for Problem 7.15 Year Purchased Height (ft) Diameter (ft) Purchased Cost (S) 1986 1998 15 10 6 3 24,224 7202