Hickory's management is deciding whether to keep or drop the parquet product line. Hickory's parquet flooring product line has a contribution margin of $50,000 (sales $300,000 less total variable costs of $250,000 ). All variable costs are relevant. Relevant fixed costs associated with this line include 80% of parquet's machine rent and all of parquet's supervision salaries. In addition, assume that dropping the parquet product line would reduce sales of the strip line by 10% and sales of the plank line by 5%. All other information remains the same. Required: 1. If the parquet product line is dropped, what is the contribution margin for the strip line? For the plank line? 2. Which alternative (keep or drop the parquet product line) is now more cost effective