You have recently hired a new operations manager and she has examined the former manager's ordering system for plastic containers, which consisted of ordering product 5 times a year, in quantities of 1,000 per order. Your new manager explained that using EOQ will save the organization money. You ask her to explain how. She uses the following information to explain: Annual Demand = 5,000 units per year Annual Holding Cost = $20.00 per unit Ordering Cost = $50.00 per order a) What is the EOQ? b) What would the total of the annual holding costs and the annual ordering costs of the former manager have been? c) What would the total annual cost difference be between the former manager's ordering method and the EOQ?