Chi Omega Sorority is planning its annual Riverboat Extravaganza. The Extravaganza committee has assembled the following expected costs for the event:Dinner $($per person$)$SFavors and program $($per person$)73$y $30=110$D$=90$Band$1\mathrm{.}500$Tickets and advertising$700$Riverboat rental $..\mathrm{.}4,800$Floorshow and strolling entertainers$1\mathrm{.}000$The committee members would like to charge $$30$ per person for the evening's activities$\mathrm{.}1.$ Compute the break$-$even point for the Extravaganza $($in terms of the number of persons that must attend$)\mathrm{.}2.$ Assume that only $250$ persons attended the Extravaganza last year. If the same number attend this year, what price per ticket must be charged to break even?$3.$ Refer to the original data $($$$30$ ticket price per person$).$ Prepare a CVP graph for the Extravaganza from a zero level of activity up to $800$ tickets sold. Number of persons should be placed on the horizontal $($X$)$ axis, and dollars should be placed on the vertical$($Y$)$ axis. $($Note: E$7-4$ has further requirements for the data in this exercise.$)$