Based on the answers provided, the following corrections need to be made to the 3D object:

1. Change the shape of the hole from square to rectangular. 
2. Adjust the size of the hole to be 1/8th the size of the original rectangle. This may require some trial and error to get right, as the exact measurements are not provided.
3. Reposition the hole to be closer to the bottom of the rectangle, instead of being centrally located.