Solved: What is the annual carrying cost of the postcard inventory, Finance Basics

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What is the annual carrying cost of the postcard inventory

Post Card Depot, a large retailer of postcards, orders 4649353 postcards per year from its manufacturer. Post Card Depot plans on ordering postcards 7 times over the next year. Post Card Depot receives the same number of postcards each time it orders. The carrying cost is $0.11 per postcard per year. The ordering cost is $390 per order.

What is the annual carrying cost of the postcard inventory? Round the answer to two decimal places.

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