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A fresh produce distributor uses 8 2 0 nonreturnable packing crates a month, which it purchases at a cost of $ 4 each. The manager

A fresh produce distributor uses 820 nonreturnable packing crates a month, which it purchases at a cost of $4 each. The manager has assigned an annual holding cost of 22 percent of the purchase price per crate. Ordering cost is $24 per order. Currently the manager orders 820 crates at a time. How much could the firm save annually in ordering and holding costs by using the EOQ? (Round the final answer to 2 decimal places.)
Annual savings $

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