8. Loki is the owner of joke shop and uses the gross profit approach for pricing all of his items. The starter magic kit costs $2.50 to purchase from his manufacturer and his target margin is 35%. Calculate the price of one slice of magic kit to the nearest whole dollar. 9. Stephen creates custom capes for children and sells them on Etsy. The children love his capes since the capes allow them to read their parent's minds. Stephen would like to achieve an 80% target profit margin and each cape costs $5 in variable costs to make. How much should Stephen charge for his capes? 10. Stephen decided to expand into adult capes. His adult cape costs $10.25 to make and he wants to achieve a gross profit margin of 65%. How much should Stephen charge for his adult capes