Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation.$$ Thomas's fastest$-$moving inventory item has a demand of $5,800$ units per year. The cost of each unit is $$$$103,$ and the inventory carrying cost is $$$$8$ per unit per year. The average ordering cost is $$$$31$ per order. It takes about $5$ days for an order to$$ arrive, and the demand for $1$ week is

$116$ units.$($This is a corporate$$ operation, and there are $250$ working days per$$ year$).$

$$a$)$ What is the$$ EOQ?