3. Blago and Co make luxury bags. The selling price is $110 per bag. The bags take 6 hours to make, labor is $8 an hour. They also require 2 square meters of leather at $12 per square meter. Fixed costs for the factory are $400,000 per year. a. How many bags do Blago and Co have to make to break even? b. If Blago and Co would like to have a profit of $50,000, how many bags do they need to sell? c. Based on information from b.: What is the Margin of Safety of Blago and Co expressed as a dollar amount and as a percentage? For each of the questions above you need to show your computations