The Price Discount Problem 1. Chris Beehner Electronics stocks toy remote control flying drones. Recently, the store has been offered a quantity schedule for there drones. This quantity schedule was shown in the table below: Price Range Quantity Ordered Price Per Unit Initial Price 1-119 $100 Discount Price 1 120-1,499 $98 Discount Price 2 1,500 and over $96 Furthermore, the setup cost (ordering cost) is $200 per order, annual demand is 5,200 units, and annual inventory holding cost is based on an annual interest rate of 28%. What order quantity will minimize the total annual cost? (a) Calculate the EOQ value for each range and identify feasible solutions. Range EOQ Value Feasible? 1-119 120-1,499 1,500 and over (b) Identify all possible order quantities that could be the best solution. (c) List all possible order quantities that could be the best solution in the following table and fill out the rest of the table. Candidate Annual Annual Annual Total for Order Unit Price Ordering Holding Annual Quantity Price Paid Cost Cost Cost (d) From the table you obtained in part (c), identify the optimal order quantity.