A regulated investor-owned electric utility currently generates 12 million Mwh per year with a total rate base, including transmission and distribution assets, of $10 billion. Its operating costs are $200 million annually. If the regulatory agency allows a 10 percent rate of return on the rate base, a. What is the regulated price of electricity? Show how you derived the answer. b. What are the utility's annual profits? Show how you derived the answer.