In early 2008, you purchased and remodeled a 120-room hotel to handle the increased number of conventions coming to town. By mid-2003, it became apparent that the recession would kill the demand for conventions. Now, you forecast that you will bo able to sell only 10,000 room-niphts, which cost $40 per room per night to service, You spent $20.00 million on the hotel in 2008 , and your cost of capital is 25%. The current going price to sell the hotel is $15 million. If the estimated demand is 10,000 room-nights, the break-even price is per room, per night. (Hint: Remember that the cost of capital is the opportunity cost, or true cost, of making an investment.)