Exercise 19-19 (Algo) Analyzing a special offer for a service company LO P3 MidCoast Airlines provides charter airplane services. In October, when the company is operating at 60% of its capacity, it receives a bid from the local college. The college is organizing a trip for a student group. The college budgeted only $48,000 for round-trip airfare. MidCoast Airlines normally charges between $68,000 and $78,000 for such service. MidCoast determines its total cost for the round-trip flight to Washington to be $64,800, which consists of the following. Variable cost Fixed cost Total cost $ 35,800 29,000 $ 64,800 Although the manager at MidCoast supports the college's educational efforts, she is struggling to justify accepting only $48,000. (a) What is the contribution margin from accepting the offer? (b) Should the airline accept the $48,000 offer from the college? Complete this question by entering your answers in the tabs below. Required A Required B What is the contribution margin from accepting the offer? Revenue from trip Variable costs of trip Contribution margin Required B>