1) Assume that the following data has been determined for the development and sale of a new digital thermometer for home use: development cost = $250,000, production investment=$500,000, annual production volume = 20,000 units per year, and sales lifetime = 7 years. Assuming a variable production cost of $5 per unit, determine: a. the sales price necessary to break even within 2 years, and b. the profit expected over the estimated sales lifetime