Last year Minden Company introduced a new product and sold $16,000$ units of i at a price of $380$ per unt. The products varnbie expenses are $$50$ per unit and its fixed expenses are $$521,400$ per yearRequired:$1.$ What was this product's net operating income $($loss$)$ last year?$2.$ What is the product's break$-$even point in unit sales and dollar sales?$3.$ Assume the company has conducted a marketing study that estimates it can increase annual sales of this product by $5,000$ unts for each $$2$ reduction in its selling price. If the company will only consider price reductions in increments of $52($e g$.$ $$/8,$ $$76,$ ete.$).$ what is the maximum annual profit that it can eam on this product? What sales volume and selling price per unit generate the maximum profit?$4.$ What would be the break$-$even point in unit sales and in dollar sales using the selling price that you determined in requirement