Given that the cubical piece has side (s) 7 mm, and a cylindrical hole of diameter (d) as 3 mm.
The volume of the piece can be calculated as,
[tex]\begin{gathered} \text{Volume of piece}=\text{ Volume of cube}-\text{ Volume of cylinder} \\ V=s^3-\frac{\pi}{4}d^2s \\ V=7^3-\frac{\pi}{4}(3)^2(7) \\ V=343-\frac{63\pi}{4} \\ V\approx293.52mm^3 \\ V\approx293.52\times10^{-9}\text{ }m^3 \end{gathered}[/tex]
It is mentioned that the material costs $207 per cubic meter, so the cost (c) of 1 piece is calculated as,
[tex]\begin{gathered} \text{Cost of 1 piece}=\text{ Cost per unit volume}\times\text{ Volume of 1 piece} \\ c=207\times293.52\times10^{-9} \\ c\approx60758.64\times10^{-9} \end{gathered}[/tex]
This is the cost (in dollars) for 1 piece.
Given that the manufacturer wants to produce 1,000,000 such pieces, so the total cost (TC) is calculated as,
[tex]\begin{gathered} \text{Total Cost}=\text{ Cost per piece}\times\text{ No. of pieces} \\ TC=60758.64\times10^{-9}\times1,000,000 \\ TC=60758.64\times10^{-9}\times10^6 \\ TC=60758.64\times10^{-3} \\ TC=60.75864 \\ TC\approx60.75 \end{gathered}[/tex]
Thus, the total prototypes will cost around $60.75