Question: A fresh produce distributor uses 8 3 0 nonreturnable packing crates a month, which it purchases at a cost of $ 4 each. The manager

A fresh produce distributor uses 830 nonreturnable packing crates a month, which it purchases at a cost of $4 each. The manager has assigned an annual holding cost of 24 percent of the purchase price per crate. Ordering cost is $26 per order. Currently the manager orders 830 crates at a time. How much could the firm save annually in ordering and holding costs by using the EOQ? (Round the final answer to 2 decimal places.)

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