An engineering company consumes 50,000 units of a component per year. The ordering, receiving and handling costs are Rs. 3 per order, while the trucking costs are Rs. 12 per order. Further details are as follows:

Interest: Rs. 0.60 per unit per year Deterioration cost: Rs. 0.004 per unit per annum Storage cost: Rs. 1,000 per annum for 5,000 units Calculate the EOQ.