Walmart faces demand for one of its SKUs at a constant rate of 20,000 units per year. It costs Walmart $24 to process an order to replenish inventory and $16 per unit per year to carry the item in inventory. Inventory is received 8 working days after an order is placed. No backordering is allowed. Assume 275 working days a year. Suppose Walmart orders in lot sizes of 400 for this particular SKU. What is their annual holding costs? (Enter your response rounded to 2 decimal places.)