The per-pound price of an item depends on the order quantity:

Less than 100 pounds $ 25 per pound

100 pounds to 3,999 pounds $ 24 per pound

4,000 pounds or more $ 23 per pound

The cost to place each order is $40. Annual demand is 2,700 pounds. The holding cost is 25 percent of the material price. What is the optimal order quantity, and what would be its annual total cost (including material, ordering, and holding costs)?