Check my work Check My Work button is now enabledItem 4 Item 4 4 points Take-a-Break Travel Company offers spring break travel packages to college students. Two of its packages, a 7-day, 6-night trip to Cancun and a 5-day, 4-night trip to Jamaica, have the following characteristics:

The Cancun trip sells for $4,200, and the Jamaica trip sells for $4,140, and both packages allow two bags to be checked for free.

Required:

1. What are the current profit margins on both trips?

2. Take-a-Breaks management believes that it must drop the price on the Cancun and Jamaica trips to $4,160 and $4,100, respectively, in order to remain competitive in the market. Recalculate profit margins for both packages at these price levels.