In December, Philip, an accountant, has just become licensed to offer CPA services in California, where Philip plans to live. He promises over the telephone to perform services forHigh Level Exercise in San Jose, related to the sale of some business assets, for seven months, beginning in April 2020. Philip sets a rate for his services and describes what will be done, which High Level Exercise approves during the phone conversation.Philip movesto California in February, and within two weeks, , he learns from other accountants that due to the high cost of living, nearly all accountants charge a minimum rate twice as high as the rate he set. Can Philip change the rate or cancel? Briefly explain.