Circle K operates a number of convenience stores worldwide. Assume that an analysis of operating costs, customer sales, and customer patronage reveals the following: Fixed costs per store $80,000.00/year Variable cost ratio $0.80 Average sale per customer visit $15.00 Customers as portion of city population $0.04 Required Determine the city population required for a single Circle K to earn an annual profit of $40,000. Please explain your answer