A company hosts an application on an Amazon EC2 instance that requires a maximum of 200 GB storage space. The application is used infrequently, with peaks durin...

A company hosts an application on an Amazon EC2 instance that requires a maximum of 200 GB storage space. The application is used infrequently, with peaks during mornings and evenings. Disk I/O varies, but peaks at 3,000 IOPS. The chief financial officer of the company is concerned about costs and has asked a solutions architect to recommend the most cost-effective storage option that does not sacrifice performance.
Which solution should the solutions architect recommend?