3) Consider a product with an annual demand of 30,000 units, a setup cost per production run of $100, an annual holding cost per unit of $10.00, and an annual production rate of 300,000 units. The firm operates and experiences demand 300 days per year. Suppose that management mistakenly used the basic EOQ model to calculate the batch size instead of using the POQ model. How much money per year has that mistake cost the company? (Hint: find the difference of total cost between two models)