Question: I need help solving this problem A produce distributor uses 785 packing crates a month, which it purchases at a cost of $8 each. The

I need help solving this problem

A produce distributor uses 785 packing crates a month, which it purchases at a cost of $8 each. The manager has assigned an annual carrying cost of 34 percent of the purchase price per crate. Ordering costs are $26. Currently the manager orders once a month. How much could the firm save annually in ordering and carrying costs by using the EOQ? (Round intermediate calculations and final answer to 2 decimal places.)

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