7.3. The owner of a manufacturing business has patented a new device. Before trying to commercialize the device, the owner wants reasonable assurance of success. The variable cost is estimated at $8 per every unit produced and sold. Fixed costs are about $60,000 per year. If the selling price is set at $20, how many units must be produced and sold to break even? Forecasted sales for the first year are 10,000 units if the price is reduced to $15. With this strategy, what would be the product’s total contribution to profits in the first year?