#2: Inventory Control The Everett Jewels Company sells watches. Annual demand for watches is 48000. The purchase cost of a watch is $38.00. The annual inventory holding rate is 20% of the purchase cost. The cost of placing an order is $114.00. The lead-time is 4 days, and assume that there are 200 working days in the year. Round off numbers to the nearest integer, if necessary. Suppose you order every time a quantity equal to the EOQ. Then, what is the total cost of placing the orders and holding inventory per year? (Hint: You need to calculate: TC=AOC+AHC)