Problem 4: The machining time in a particular turning operation is 250 s, and the tool requires changing every five components. The nonproductive time (loading and unloading) is 290 s per component, and the tool changing time is 150 s. The cutting speed is 2.5 m/s, and the tool is brazed-type carbide (n = 0.25) that requires an expenditure of $10.00 for regrinding (including depreciation). a. What should the cutting speed be changed to in order to operate at minimum cost? (Assume a machine depreciation rate of $10 per hour, operator wages of $14 per hour, and 100% overheads on operator and equipment) b. How much would be saved per component by operating at minimum cost?