Headland Ltd. uses 4,410 metres of fine gage brass each year. Brass wire costs $12 per metre, ordering costs are $44 per order, and carrying costs are $2.20 per metre. Currently, Headland orders 700 metres in each order. Is this the most economical order size? If not, what is the economic order quantity? How much will Headland save using the EOQ? (Round answers to 2 decimal places, e.g. 125.74.)

Economic order quantity			metres
Headland will save		$	per year