If the following data is known in determining Quantity Discount with EOQ -Demand rate = 100,000

Ordering Cost = 5000

Holding/Carrying cost =600

Based on this data, determine the optimal order quantity and total cost for this case!

NOTE: Please work with formulas and details.

Thank you.

\begin{tabular}{|c|c|c|c|} \hline Price Range & LOWER & UPPER & PRICE \\ \hline 1 & 1 & 1000 & 1000 \\ \hline 2 & 1001 & 1500 & 900 \\ \hline 3 & 1501 & 3000 & 800 \\ \hline 4 & 3001 & 3500 & 700 \\ \hline 5 & 3501 & 3750 & 650 \\ \hline 6 & 3751 & 4000 & 600 \\ \hline \end{tabular}