(40 points) Calculation/Modeling Questions: 31. (14 points) Chris Sandvig Irrigation, Inc., has summarized the price list from two potential suppliers of an underground control valve. See the accompanying table. Annual usage is 2,400 valves; order cost is $10 per order; and annual inventory hodling costs are $3.33 per unit. Which vendor should be selected and what order quantity is best il Sandvig Irrigation wants to minimize total cost? (You must show all your works) VENDOR A VENDOR B QUANTITY PRICE QUANTITY PRICE 1-49 $35.00 1-74 $34.75 50-74 34.75 75-149 34.00 75-149 33.55 150-299 32.80 150-299 32.55 300-499 31.60 300-499 31.15 500+ 30.50 500+ 30.75 Mote: For each supplier, you must identify all possible order quantities that could be the best solution in step 1. And you calculate the total cost of all possible best order quantities, and the least expensive order quantity is chosen. Follow Solution Procedure (See lecture slides or a textbook) Mote: Since a holding cost isn't dependent on purchasing price in %, vendors have a single possible order quantity