Apple, the consumer electronics giant, on Tuesday rolled out new versions of its popular iPod music player. CEO Steve Jobs also unveiled cheaper models of its Touch music player, a touchscreen-only device. An 8-gigabyte version now costs RM920, down from RM1200. A 32-gigabyte model costs RM1600, down from RM2000. Calculate the price elasticity of demand for a 32 gigabyte Touch player if the quantity demanded increases from 850,000 to 950,000 the month after the price decrease. What is the right price to charge for 32-gigabyte model so that the total revenue is maximized