James Company sells optical equipment, and orders lenses from Jeff Company which manufactures special glass lenses. James orders 11,700 lenses per year, at $38 per lens. Jeff covers all shipping costs. James earns 22% on its cash investments. The purchase-order lead time is 4 weeks. James sells 315 lenses per week. The following data are available:

Relevant ordering costs per purchase order $45.25

Relevant insurance, materials handling, breakage,

and so on, per unit $5.50

What is the economic order quantity for James?

	a.	439 lenses
	b.	356 lenses
	c.	277 lenses
	d.	195 lenses
	e.	None of the answers.