3. Jane's Basic Botique sells approximately a constant 500 pairs of basic black flats every 3 months. Jane's current policy is to order 500 pairs each time she places an order. It cost Jane $50 to place the order and her annual holding cost rate is 40%. The wholeseller Jane purchases from has the following quantity discount schedule: Order Quantity Price per Pair 0-99 100-199 200-299 300 or more $20.00 $19.00 $18.00 $17.50 Based on the information, answer the following questions (you may want to input the information into Excel, though you do not have to): (a) What is the minimum cost for the economic order quantity of shoes? Would Jane ever choose to not get a discount? (b) How much would you recommend Jane order to get the lowest cost? How much does it save her relative to her current situation (i.e. how much she currently orders)? Explain. (c) Suppose Janes Basic Botique is open 6 days a week for the entire year. If the lead time needed by the wholeseller moves from 14 days to 28 days, how does this change influence her reorder point? Explain. (d) With the shift from in person shopping to online shopping due to COVID-19, demand for the shoes has fallen to 50 pairs every 3 months. What quantity would you suggest she order now (assume the discounts remain the same)? Why? (e) Due to changes in ordering patterns and inventory suppose issues, suppose the discount is now: Order Quantity Price per Pair 0-79 80-159 160-249 250 or more $20.00 $19.25 $18.50 $18.00 Additionally, the lead time is now 40 days. Explain what the optimal quantity to order is now and when you should order