Answer the following SIX independent questions (numbered 15 through 20). 15. Leonard Corporation is considering selling to a group of new customers and creating new annual sales of $90,000.5% will be uncollectible. The collection cost on these accounts is 3% of new sales, the cost of producing and selling is 80% of sales, and the corporation is in the 30% tax bracket. What is the profit on new sales? 16. Shera Inc. has annual credit sales of $1,800,000 and accounts receivable of $160,000. Assuming that there are 360 days in a year, what is the value of the average collection period? 17. The shipping expense is $9,000 for 8,000 pounds shipped and $11,250 for 11,000 pounds shipped. Assuming that this activity is within the relevant range, and if the company ships 9,000 pounds, what is the expected shipping expense? 18. Urban Corporation sells and installs furnaces for $3,000 per furnace. The following cost formula relates to the operations at Urban: Y = $125,000 + $1,800X. If Urban Corporation sells and installs 500 furnaces during a period, what is its total contribution margin for this period? 19. Gold Company is a wholesaler that sells a single product. The management has provided the following cost data for two levels of monthly sales volume. The company sells the product for $170 per unit. What is the best estimate of the total monthly fixed costs? Sales Volume (Units) Cost of Goods Sold Selling and Administrative Costs Level 1 5.000 units $393 500 $181.500 Level 2 0.000 $472.200 993.60 20.. At an activity level of 20,000 units, the total variable costs are $70,000, and the total fixed costs are $41,600. Which of the following is correct if 32,000 units are produced, and this activity level is within the relevant range