9:16 A 4 Canvas Student atop nertiI anu compIEIe r'arts 1. ant: L During his seagoing travels, Luca has stumbled upon an island in the North Atlantic this is rumored to have a buried treasure. He would like to spend more time looking for this treasure, but doesn't want to quit his business altogether, you know, in case there is no treasure. Luca is wondering what is the minimum number of charters he'd have to run per month to cover all of his costs (including any non cash expenses). He assumes he cannot change his product mix of 9 individually booked charters for every 3 group charters. Stop here and complete Part 3 Investment Options Luca has noticed an increased interest in shark fishing. But to offer shark fishing charters, he's going to need a bigger boat. Luca estimates that he could fill a 20 passenger boat 12 days per month without offering any group discounts. The bigger boat would cost $1,500,000. Luca estimates he can use the boat in his business for 15 years and can sell the boat for $40,000 at the end of those 15 years. Luca would need to buy 150 gallons of fuel per charter. He could charge $500 per passenger. His food costs per person would remain unchanged. He would need to increase his insurance coverage, which would cost an additional $1,200/year and would need to hire an additional deckhand for each trip (remember the additional deckhand wants to eat lunch too). He would need a new advertising strategy, which he believes would cost $4,500/year (he would discontinue buying space in magazines). While Luca lovemFs e | ea 0 running a shark fishing 4 Canvas Student