The figure shows a welded fitting which has been tentatively designed to be bolted to a channel so as to transfer the 2500-lbf load into the channel. The channel is made of hot-rolled low carbon steel having a minimum yield strength of 46 kpsi; the two fitting plates are of hot-rolled stock having a minimum Sy of 45.5 kpsi. The fitting is to be bolted using six SAE grade 2 shoulder bolts. Check the strength of the design by computing the factor of safety for all possible modes of failure.