A consulting firm is trying to determine how to minimize the annual costs associated with purchasing highquality paper for its printers. Each time an order is placed, an ordering cost of $20 is incurred. The price per ream of printer paper depends on Q, the number of reams ordered, as shown in the file P13_31.xlsx. The annual holding cost is 20% of the dollar value of inventory.

During each month, the consulting firm uses 80 reams of printer paper. Determine the optimal order quantity and the number of orders placed each year.