Meiger Mining, Inc., hasjust discovered two new mining sites for iron ore. Geologists and engineers have come up with the estimates on the following page regarding costs and ore yields if the mines are opened. Site A Site B Variable extraction costs per\" ton $ 3.88 $ 4.88 Fixed costs over the life of the mine: Blasting $158,868 $185,888 Construction 225,888 248,888 Maintenance 25,888 28,888 Restoration costs 48,888 35,888 Total Fixed costs $448,888 $488,888 Total tons of are that can be extracted over' the life of the mine: 288,888 168,888 Meiger's owners currently demand a return of 21 percent of the market price ofiron ore. Required: a. If the current market price of iron ore is $8.15 per ton, what is Meiger's target cost per ton? b-1. Given the $8.15 market price. compute the total cost per ton for Site A and Site B if xed overhead costs are assigned to products on the basis of estimated tons of ore that can be extracted over the life of the mine. b-2. Should either ofthe mines be opened? 2-1. The engineer working on Site B believes that ifa custom conveyor system is installed. the variable extraction cost could be reduced to $3 per ton. The purchase price of the system is $25,000, but the costs to restore the site will increase to $45000 if it is installed. Given the current $8 market price, compute the total cost per ton for site B. c-2. Should Meiger install the conveyor and open Site B