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Homework: Portfolio 4 Part 4 (chapter 16) Question 2, Problem 16.3 Part 1 of 2 > HW Score: 0%, 0 of 10 points O Points: 0 of 2 Save Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a reduced lot size. The firm uses a work year of 290 days. Setup labor cost $40.00 per hour Annual holding cost $20 per unit Daily production (8 hours) 800 units/day Annual demand for steering wheels 31,900 (290 days x daily demand of 110 units) Desired lot size (2 hours of production) Q = 200 units a) Setup cost = $ (round your response to two decimal places)