Part II: Problemsmiscussion Questions {92 Marks] 1. The Outdoor Company estimated that they will require 14,000 boxes of hiking supplies over the next year. Administrative and other costs associated with placing an order are estimated to be $23 per order. The Hiking Company uses a rate of 12% per year for calculating inventory holding costs. {15 Marks] The Outdoor Company's supplier encourages its customers to order in large quantities by offering a price break on T.rolume. Hence, the price per box depends on the order quantity as follows: Drder Size Price per Box 0 349 3.31 350 649 30 650+ 28