3. EX.20.10.ALGO (Algorithmic) Contribution Margin and Contribution Margin Ratio For a recent year, McDonald's (MCD) company-owned restaurants had the following sales and expenses (in millions): Sales $20,000 Food and packaging Payroll $(8,440) (5,000) (3,060) (2,900) Occupancy (rent, depreciation, etc.) General, selling, and administrative expenses $(19,400) Operating income $600 Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Round to the nearest million. (Give answer in millions of dollars.) $ million b. What is McDonald's contribution margin ratio? % c. How much would operating income increase if same-store sales increased by $1,200 million for the coming year, with no change in the contribution margin ratio or fixed costs? Round your answer to the closest million. million