1. You are a product manager for a business that sells valves for heavy trucks. You believe that your customers see a lot of value in your product because your quality is far superior to any products that your competition offers. The current price per valve is $3.00 and you sell 200,000 valves per year. Your cost to make each valve is $2.40. You believe that you can raise prices by 10% and not lose any customers. You also are expecting that your costs remain flat (no increases or decreases) for the next year. a. Fill in all of the gray highlighted boxes below: Revenue COGS Gross Margin % Gross Profit $ Proposed price increase % P&L prior to increase New P&L after price increase % increase in Gross Profit $