3) The owner of a millwork shop is considering three alternative locations for a new plant for building embossed-and-clad steel exterior doors for residences. Fixed and variable costs follow. Since the plant ships nationwide, revenue is assumed the same regardless of plant location. Identify the range over which each location is best. Location CostsABC Fixed$700,000$1,000,000$1,100,000 Variable$28$18$20 Step 1. Formulate Total Cost (TC) functions for each option. Step 2. Draw a graph with Total Cost Functions. Step 3. Compute the cross-over Points. Step 4. Analyze the cases and determine the best option for specific quantity ranges. (Please state which option is preferred in a quantity range, and which option is never preferred.)