Collyer Products Inc has a Valve Division that manufactures and sells a standard valve as follows: The company has a Pump Division that could use this valve in the manufacture of one of its pumps. The Pump Diviston is currently purchasing 13,000 valves per year from an overseas supplier at a cost of $21 per valve Required: 1. Assume that the Valve Division has ample idile capacity to handle all of the Pump Division's needs. What is the acceptable range, if any, for the transfer price between the two divisions? 2. Assume that the Valve Division is seling ail that it can produce to outside customers on the intermediate market. What is the minimum transfer price acceptabie to the Valve Division for transfers to the Pump Division? 3. Assume again that the Valve Division is selling all that it can produce to outside customers on the intermediate market. Also assume that $2 in variable expenses can be avoided on transfers within the company, due to reduced seling costs. What is the acceptable. range, if any, for the transfer price between the two divisions? 4. Assume the Pump Division needs 30,000 special high-pressure valves per yeat The Valve Division's variable costs to manufacture and ship the special valve would be $12 per unit. To produce these special valves, the Valve Division would have to reduce its production and sales of regular valves from 290,000 units per year to 230,000 units per year As far as the Valve Division is concerned, what is the lowest acceptable transfer price? (Round your answer to 2 decimal places.)