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DISCUSSION BOARD ASSIGNMENT CHAPTER 20 The loan department of Grisswald National Bank is responsible for processing loan applications. The loan processing fee for clients is $300 per application. Joan Evergreen, the manager of the department, wants to perform some cost-volume-prot analysis and is looking at computing a break-even point and doing some target profit calculations. She has collected the following data: Variable costs in the loan department are as follows: wages of employees processing the loans, $16.50 per hour (a loan application takes four hours to process), ofce supplies, $7.20 per loan application, '3' _ and other variable costs, $14.30 per loan application. The annual xed costs of the loan department are as follows: equipment depreciation, 56,500, ofce rental, $16,000, other xed costs, $20,000. FOR ALL CALCULATIONS BELOW, ROUND OFF TO A WHOLE NUMBER. 1. Compute the number of loan applications the loan department must process to break-even. 2. Compute the number of loan applications the loan department must process to earn a prot of $36,125. 3. Change one element of variable cost and one element of xed cost and compute: a. the new break-even point. b. the number of loan applications to earn a prot of $60,000