8. Suppose that you are assigning costs to a major project to be undertaken this year by your firm, DynoSoft Applications. One particular coding process involves many labor-hours, but highly redundant work. You anticipate a total of 200,000 labor-hours to complete the first iteration of the coding and a learning curve rate of 70% (learning curve coefficient = .214 unit time, Pinto, p.285). You are attempting to estimate the cost of the twentieth (steady state) iteration of this coding sequence. Based on this information and a $60 per hour labor rate, what would you expect to budget as the cost of the twentieth iteration? TN = TC Where TN = Time needed to produce the Nh unit T = Time needed to produce the first unit = Learning curve coefficient A) $2,568,000 B) $2,520,000 C) $12,000,000 D) Need more information