ABC Inc. uses the EOQ model to manage the inventory of a SKU for sales to customers. The business setting satisfies all assumptions for the EOQ model. ABC correctly calculates the EOQ to be 50 units and set the order quantity Q to be EOQ=50. The corresponding annual total (sum of) costs for ordering and holding cycle inventory is known to be $ 1,500. Please answer the following question:

ABC's annual total costs for holding cycle inventory = $ ____. (Please report your answer with two decimal places.)

(Hint: The problem statement deliberately gives only incomplete information of the parameters of ABC's inventory model. Please utilize a property of the EOQ model to answer this question.)

$1500

$1200

$750

$600

$500

$300

$30

$24