7. Steve receives $1500/month from a trust fund for 30 years when he turns 20 years old. What is the present value of total payment given discount rate of 7%. 8. You rent a booth in Christina Mall to sell cell phone covers. You order the covers from a ware house for $28 a dozen (12 pieces). The average selling price for the covers is $9.98. You have to pay $3200 for the monthly rent and $200 administration fee every month. Please calculate your monthly Break Even Point. 9. You rent a booth in Christina Mall to sell cell phone covers. You order the covers from a ware house for $28 a dozen (12 pieces). The average selling price for the covers is $9.98. You have to pay $3200 for the monthly rent and $200 administration fee every month. You also need to pay a sales person commission $1.2 per cover sold. Please calculate your monthly Break Even Point