The manager of Quantum Sports, a large sports and leisure wear store, estimates that the store will sell 5,000 pair of a new running shoe over the next year. If the cost of placing an order is £12.00 and the cost of carrying one pair of shoes in stock for a year is estimated at £10, calculate:

(a) the economic order quantity,

(b) the number of orders to be placed during the year and

(c) the total cost of stocking the shoes for the year.