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2. The Crofford Cutlery Company manufactures their Super Sharp knife that sells for $14.50. The current process has fixed costs of $1400 per day and unit costs of $3.85. The vice-president of the company recommends leasing new equipment that will reduce unit costs to $2.70. The president of the company opposes this because it will increase fixed costs to $1725 per day. The vice-president claims the decrease in unit costs will more than offset the increase in fixed costs. Determine if the vice president is correct. Show work to support your