1. Consider a stamping press that makes large metal rings (i.e., washers) for nuts and bolts. The coil of steel sheet is fed to the process automatically and each strike of the process, which takes about 3 seconds, makes 4 washers. Each coil is enough to make 8000 washers. Thus, after making 8000 washers, the process stops and a new coil is fed to the process. This takes about 5 minutes. The press is subject to occasional breakdowns and requires some minor repair. Specifically, the data shows that after working for an average of 20 hours, the press breaks and must be repaired. The repair takes an average of 2 hours. The press is used 8 hours in each day to produce washers. a. Compute theoretical and effective capacity of the press based on the number of washers the press can produce in a day. b. What is the capacity improvement potential for this press? The company is considering purchasing a new press that can work with larger coils producing 5 washers in each strike, which also takes 3 seconds. Similar to the current press, the new press requires a new coil after making 8000 washers. Feeding the new coil into the press takes an average of 5 minutes. The new press is not expected to fail if the recommended preventive maintenance operations are performed. Specifically, the press must be stopped after every 2 hours of operations and some adjustments and lubrication must be performed, which takes about 10 minutes. c. Putting the purchasing and replacement costs aside, should the company replace the current press with the new press?