Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. PARAMETER Item cost Order cost VALUE $10.00 $215.00/order Annual holding cost 27 % of item cost Annual demand 22,600 units Average weekly demand 452 /week Standard deviation of weekly demand25 units Lead time 3 week Service probability 95 % a. Determine the order quantity and reorder point. (Use Excel's NORMSINV ( ) function to find your z-value and then round that z-value to 2 decimal places. Do not round any other intermediate calculations. Round your final answers to the nearest whole number.) Optimal order quantity Reorder point units units b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places.) Holding cost(s) Ordering cost($) c. Assume a price break of $50 per order was offered for purchase quantities of 2,000 units per order. If you took advantage of this price break, how much would you save annually? (Do not round any intermediate calculations (including number of setups per year). Round your final answer to 2 decimal places.) Annual saving($)