3. Joe Products uses 840 units of a product per year on a continuous basis. The product has carrying costs of $50 per unit per year and order costs of $250 per order. It takes 25 days to receive a shipment after an order is placed and the firm requires a safety stock of 7 days usage in inventory. (a) Calculate the economic order quantity (EOQ). (b) Determine the reorder point. (Assume a 360-day year.)