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Assume you have some data related to confirmation testing during system testing of a past project. In that project 240 bug reports have been opened once, 80 were opened twice, 10 were opened three times and no bug reports have been opened more than three times. You estimate that a bug report, which has failed its confirmation test, costs, on average, 3 person-hours. Which of the following statements correctly describe the value of these confirmatory testing activities based on cost of quality?