If Item X is ordered whenever the inventory hits zero, and the order quantity is 309 each time an order is placed, what is the annual holding cost that Complete Computer incurs in one year? (Note that this is the holding cost for all units of Item X, not just a single unit of Item X).

Assume that the firm uses exactly 2000 of item X; the fixed ordering cost is $10 per order, and the variable cost is $25 per unit ordered. Storage/holding cost is $0.55 per unit of average inventory per year.