BRC Corporation purchases an electronic component EC-1002 from its supplier.  The purchase cost of the component is $24.  The company's supply manager estimated the demand of 23,000 components for the next year.  Holding costs for the components are 20% and it costs $1,800 to place an order with the printer.  The supplier provides the following discount schedule:

Order Size Range               Discount
(Units)                                   (%)
0 - 4,699                                0%
4,700 - 7,999                       1.5%
8,000 and More                   3.1%

a)    Determine the order quantity that minimizes the total material cost (i.e. total purchase cost and total inventory cost)