The cost should be less than the cost of sending them separately.
The cost should be less than that of sending them separately.
The cost should be less than sending them separately.
I think all these three sentences are correct, but I would like to know why is it possible to omit "that of" or the repetition of" the cost" in the third example. I've read many things on "that of" but can't understand why is it possible to omit it in my example.