In 2020, McGrath & Sons, a small environmental-testing firm, performed 12,000 radon tests for $310 each and 15,600 lead tests for $200 each. Because newer homes are being built with lead-free pipes, lead-testing volume is expected to decrease by 12% next year. However, awareness of radon-related health hazards is expected to result in a 4% increase in radon-test volume each year in the near future. Jim McGrath feels that if he lowers his price for lead testing to $180 per test, he will have to face only a 6% decline in lead-test sales in 2021. Read the requirements. Requirement 1. Prepare the sales budget for McGrath & Sons assuming that prices are held at 2020 levels. Sales Budget For the Year Ended December 31, 2021 Radon tests Lead tests Total Total revenues Requirements 1. Prepare a 2021 sales budget for McGrath & Sons assuming that McGrath holds prices at 2020 levels. 2. Prepare a 2021 sales budget for McGrath & Sons assuming that McGrath lowers the price of a lead test to $180. Should McGrath lower the price of a lead test in 2021 if the company's goal is to maximize sales revenue? Print Done -