A company is considering purchasing a key component from a supplier offering quantity discounts. The annual demand for the component is 22,000 units. The ordering cost is $80 per order, and the holding cost is $5 per unit per year. The supplier offers the following quantity discounts:
1. Option A: If the company orders 5,000 units or less, the price per unit is $10.
2. Option B: If the company orders between 5,001 and 10,000 units, the price per unit is $9.
3. Option C: If the company orders between 10,001 and 15,000 units, the price per unit is $8.
4. Option D: If the company orders 15,001 units or more, the price per unit is $7.
Which option should the company choose to minimize the total cost of purchasing the component?