(15pts) Tin drums are manufactured in a workshop which has a production rate of 8000 drums per year. Annual demand is 3000 drums and the fixed setup cost for production is 2000 liras. Unit production cost is estimated as 80 liras per drum and inventory holding cost is evaluated as lost opportunity for alternative investment with an interest rate of 0.25. Backordering is not allowed. What is the optimal production lot size? What is the optimal cycle length and optimal annual cost