Consider a normally distributed process that cuts wood with a process center of 18 inches and a standard deviation of 0.08 inches. The lower specification limit is 17.80 inches, and the upper specification limit is 18.20 inches. A piece of wood that is cut too short or too long must be scrapped at a cost of $2.00. The firm runs 1,200 pieces of wood through the machine per day and works 300 days per year. What is the annual expected fixing cost of this process? (Hint: You can use the Z-table or one of these two functions in Excel (=NORM.DIST(x, mean, std. deviation, true)), or (=NORM.S.DIST(z, true))) The expected fixing cost = $ per year