Haul'n'Tow manufactures trailer hitches for personal vehicles. The company has production levels budgeted for February of 2,000 hitches. Each hitch requires 15 feet of steel to manufacture. The company has a policy of always having 500 feet of steel on hand at the end of the month. Last January the company ended the month with only 350 feet of steel on hand. Steel costs $5/foot. How much raw materials is to be purchased in February