Check my work Russell Preston delivers parts for several local auto parts stores. He charges clients $0.85 per mile driven. Russell has determined that if he drives 2,500 miles in a month, his average operating cost is $0.50 per mile. If he drives 3,500 miles in a month, his average operating cost is $0.40 per mile. Russell has used the high-low method to determine that his monthly cost equation is total cost = $980 + $0.15 per mile. 10 points eBook Print Required: 1. Determine how many miles Russell needs to drive to break even. 2. Assume Russell drove 1.600 miles last month. Without making any additional calculations, determine whether he earned a profit or a loss last month. 3. Determine how many miles Russell must drive to earn $1,400 in profit. 4-a. Prepare a contribution margin income statement assuming Russell drove 1,600 miles last month. 4.b. Use the information provided in Req 4a to calculate Russell's degree of operating leverage. References Complete this question by entering your answers in the tabs below. Req1 Req2 Reg 3 Req 4A Req 48 Determine how many miles Russell needs to drive to break even. Break-Even Miles Miles MC Noyt Complete this question by entering your answers in the tabs below. Reg 4A Reg 4B Reg 1 Req3 Req 2 es Determine how many miles Russell must drive to earn $1,400.00 in profit. Miles Target Miles RUSSELL PRESTON Contribution Margin Income Statement For Last Month Contribution Margin S Income from Operations