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Cheeseburger and Taco Company purchases 18,351 boxes of cheese each year. It costs $15 to place and ship each order and $9.31 per year for

Cheeseburger and Taco Company purchases 18,351 boxes of cheese each year. It costs $15 to place and ship each order and $9.31 per year for each box held as inventory. The company is using Economic Order Quantity model in placing the orders.

What is the annual carrying costs of cheese inventory?

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