The Valve Corporation, a software entertainment company, ran a holiday sale on its popular Steam software program. Using data collected from the sale, it is possible to estimate the demand corresponding to various discounts in the price of the software. Assuming that the original price was $40, the demand for the software can be estimated by the function q = 3,751,000p^-2.826, where p is the price and q is the demand. Calculate the elasticity of demand. Is the demand elastic or inelastic? How would a 1% increase in the price affect the demand?