A company has several divisions. One division, Iron Products, makes a component that another division, Austin, is currently purchasing on the open market. Iron Products currently has a capacity to produce 525,000 components at a variable cost of $6.00 and a full cost of $10.00. Iron Products has outside sales of 478,000 components at a price of $13.00 per unit. Austin currently purchases 55,000 units from an outside supplier at a price of $11.50 per unit. Assume that Austin desires to use a single supplier for its component. Required: a. What will be the effect on the company's operating profit if the transfer is made internally? Assume the 55,000 units Austin needs are either purchased 100% internally or 100% externally. b. What is the minimum transfer price? c. What is the maximum transfer price? Complete this question by entering your answers in the tabs below. Required A Required B Required C What will be the effect on Rapid Industries' operating profit if the transfer is made internally? Assume the 55,000 units Austin needs are either purchased 100% internally or 100% externally. < Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Required C What is the minimum transfer price? Note: Round your answer to 2 decimal places. Minimum Transfer Price < Required A Required C > Complete this question by entering your answers in the tabs below. Required A Required B Required C What is the maximum transfer price? Note: Round your answer to 2 decimal places. Maximum Transfer Price < Required B Required C >