(10 Points) Consider a normally distributed process that cuts wood with a process center of 32 inches and a standard deviation of .20 inches. The lower specification limit is 31.516 inches, and the upper specification limit is 32.42 inches. A piece of wood that is cut too short must be scrapped at a cost of $15.60. A piece of wood that is cut too long must be re-cut by hand at a cost of $4.00. The firm runs 24,000 pieces of wood through the machine per day and works 260 days per year. What is the annual expected fixing cost of this process?

Round all intermediate numbers to the nearest 4 decimal places. The final answer can be rounded to the nearest dollar.