A proposed motel, Bruno's, is scheduled to open in two months. The owner, Lou Bruno, seeks your advice on pricing. Although he knows he will have to modify your recommendations based on market prices, he desires a cost perspective. He gives you the following information: Lou's investment ($) Lou's desired ROI (Net income) Lou's marginal tax rate Funds borrowed Interest rate 4,765,000 20% 30% 7,147,500 $ Forecasted annual costs: Depreciation, property taxes and insurance Management fees Rooms department expenses Undistributed operating expenses 1,906,000 5% of room sales 25% of room sales 762,400 $ Assumptions: Assume the Bruno has 150 guestrooms, and it expects to have an occupancy rate of 70%. Also, assume a 365-day year in your calculations. Required: 1. How much sales revenue should the motel genereate to cover all the costs and make the desired return? 2. What sould be the ADR so that the motel can make the sales revenue found in question 1? 3. Bruno's has both single and double rooms. Assume that 80 percent of rooms sold are double rooms, and they sell at $20 more than the price of a single room. What is the average selling price of a double