Gable Company manufactures wallets from fabric. In 2016 , Gable made 2,160,000 wallets using 1,600,000 yards of fabric. In 2016, Gable has capacity to make 2,448,000 wallets and incurs a cost of $8,568,000 for this capacity. In 2017 , Gable plans to make 2,203,200 wallets, make fabric use more efficient, and reduce capacity. Suppose that in 2017 Gable makes 2,203,200 wallets, uses 1,440,000 yards of fabric, and reduces capacity to 2,295,000 wallets at a cost of $7,803,000. Assume the fabric costs $4.00 per yard in 2017 and $4.10 per yard in 2016 . Read the requirements. Requirement 1. Compute Gable Company's total factor productivity (TFP) for 2017. To assist you, use the popup to identify the various components of the formula. (Click to view the components you will use in your formulas.) Determine the formula for the total factor productivity (TFP) for 2017 , then calculate the ratio. (Round the ratio to four decimal places.) Requirements 1. Compute Gable Company's total factor productivity (TFP) for 2017. 2. Compare TFP for 2017 with a benchmark TFP for 2016 inputs based on 2017 prices and output. 3. What additional information does TFP provide that partial productivity measures do not? Reference