The Grey Sofa Company produces a specialty chairs, and has the following information available concerning its inventory items:

Relevant ordering costs per purchase order

$$150\mathrm{.}00$

Relevant carrying costs per package per year:

Required annual return on investment

$10\%$

Required other costs per year

$$1\mathrm{.}40$

Annual demand is $10,000$ chairs per year. The purchase price per unit is $$16.$

What is the economic$-$order quantity? $($HINT: Consider the annual opportunity cost per unit of $$1610\%=$$$1\mathrm{.}60)$

$1,464$ units

$425$ units

$1,000$ units

$5,000$ units