You are an engineer at a company planning the design and manufacture of a digital answering machine. Given a sampling rate of $12$KHz and a quantization of $8$ bits, how much memory $($MBytes$)$ is required to store $20$ minutes of conversation? What size memory chip $($in MBytes$)$ is appropriate? $($Recall that memory chip sizes are available in powers of $2.$ For example, $2$KB$,4$KB$,8$KB$,...\mathrm{.}2$MB$,4$MB$,8$MB$,16$MB$,32$MB$,..\mathrm{.}2$GB$,4$GB$,8$GB$,16$GB$,$ etc.$)$ Must show all steps of the calculation.