You're a management consultant advising a company on cost reduction strategies. Evaluate the potential cost reduction opportunities for three expense categories:

• Expense Category A: Current annual expense of $1.5 million, targeted reduction of 10%.
• Expense Category B: Current annual expense of $2 million, targeted reduction of 15%.
• Expense Category C: Current annual expense of $1.2 million, targeted reduction of 20%.

Requirements:

• Calculate the targeted expense reduction amount for each expense category.
• Identify specific cost reduction initiatives for each expense category.
• Estimate the potential savings from implementing the cost reduction initiatives for each expense category.