An auto parts supplier sells a popular brand of batteries to car dealers and auto mechanics. The annual demand is approximately 1,200 batteries. The supplier pays $28 for each battery and sells each for $45. In addition, they estimate that the annual holding cost is 30 percent of the battery's cost. It costs approximately $20 to place an order (managerial and clerical costs). The supplier currently orders 100 batteries per month. What is the approximate yearly inventory cost for the current order quantity
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