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Finance: Carrying Costs and Ordering Costs

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Post Card Depot, an large retailer of post cards, orders 6,910,010 post cards per year from its manufacturer. Post Card Depot plans on ordering post card 8 times over the next year. Post Card Depot receives the same number of post cards each time it orders. The carrying cost is $0.15 per post card per year. The ordering cost is $381 per order.

What is the annual carrying costs of post card inventory (round the answer to two decimal places)?

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