Gary King is a young entrepreneur preparing to start a company that will sell floating lounge chairs for use in private pools. As part of a loan package, the bank has asked him to prepare a business plan that includes a breakeven analysis. The lounge chairs will sell for $75 each: chand variable costs per unit are expected to be $45. Gary anticipates incurring $609,000 in fixed costs per year. (a) Your answer is correct. What is the expected contribution margin per lounge chair? Contribution margin $ 30 per chair e Textbook and Media Attempts: 1 of 3 used (b) Your answer is correct. Based on his projections, how many lounge chairs must Gary sell to break even? 20300 chairs e Textbook and Media Attempts: 2 of 3 used (c) Your Answer Correct Answer Your answer is correct If Gary wants to generate annual operating income $62,100, how many lounge chairs must he sell? 22370 chairs e Textbook and Media Solution Attempts: 3 of 3 used (d) X Your answer is incorrect. Assuming the company's tax rate is 35%, how many lounge chairs must the company sell to generate annual net income of $62,400? (Round answer to decimal places, eg. 5,275. Use contribution margin per unit to calculate the answer.) 21840 chairs e Textbook and Media Save for Later Attempts: 1 of 3 used Submit