3. Ace Machinery showed the following operating budget for the next year. Complete parts (a) through (d) below. Each scenario is independent. Sales $2,400,000 Fixed cost $1,100,000 Total variable cost 740,000 Total cost 1,840,000 Net income $560,000 (a) Calculate the contribution margin and contribution rate. The contribution margin is $ (Round to the nearest dollar as needed.) The contribution rate is (Round to four decimal places as needed.) (b) How much does Ace Machinery need to sell to break even? Ace Machinery needs to sell $ (Round to the nearest dollar as needed.) (c) If the company has to spend $280,000 on marketing, how much does Ace Machinery need to sell to break even? Ace Machinery needs to sell $ (Round to the nearest dollar as needed.) (d) If sales increase by 13%, what would the resulting net income be? The net income would be $ (Round to the nearest dollar as needed.) 4. Arrow Manufacturing offers discounts of 15%, 12.5%, 9% on a line of products. For how much should an item be listed if it is to be sold for $345.85? The item should be listed for $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)