1.3_(12 marks) Cost-Volume-Profit - Chapter 4- Bingo is very popular in Parry Sound, Ontario where some churches have a tradition of fundraising with bingo. Suppose that, due to recent changes in costs, a parish in Parry Sound is reviewing the desirability of conducting weekly bingo nights. The parish has no hall, but a local hotel would be willing to commit its hall for a lump-sum rental of $500 per night. The rent would include cleaning, setting up and taking down the tables and chairs and so on. Requirement 1." A local printer would provide bingo cards in return for free advertising. Local merchants would donate door prizes. The services of clerks, callers, security, and others would be donated (no cost) by volunteers. Admission would be $5.00 per person, entitling the player to 1 bingo card. Extra bingo cards can be purchased for $1.50 each. Many players buy extra cards and therefore the average is four bingo cards played per person. What is the maximum in total cash prizes that the church may award and still break even if 200 people attend each weekly session?