Start with the current EOQ using the basic information provided. Assume that demand grows by 5% each year for the next five years. Also assume that ordering cost falls by 7% each year and holding cost increases by 10% each year for the next five years. Use the SHORTCUT method discussed in class to provide the EOQ for each of the next five years. For the final year only: (a) Compute the EOQ using the LONG method (by computing the expected demand, ordering cost, and holding cost and substituting in the EOQ formula) and compare to your answer obtained by the SHORTCUT method. Keep at least four places of decimal in your calculations (you can keep 2 places for the calculated EOQ). (b) Compute the Total Cost corresponding to the EOQ you compute. The following basic information is provided and applies to both questions below. Currently, the annual demand for a product is 1000 units, the setup (i.e., ordering cost) per order is $45, and the holding cost is 80 cents per item per year