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Question 1: An iPhone 13 costs $1,100, and the annual holding cost is estimated at 10% of the value of the item. Annual demand at

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An iPhone 13 costs $1,100, and the annual holding cost is estimated at 10% of the value of the item. Annual demand at the Verizon store is 15,000 units, and the order cost is $150 per order. What is the approximate economic order quantity for the Verizon store?

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