MidCoast Airlines provides charter airplane services. In October, when the company is operating at 60% of its capacity, it receives a bid from the local college. The college is organizing a trip for a student group. The college budgeted only $34,000 for round-trip airfare. MidCoast Airlines normally charges between $54,000 and $64,000 for such service. MidCoast determines its total cost for the round-trip flight to Washington to be $49,400, which consists of the following. Variable cost Fixed cost Total cost $ 27,400 22,000 $ 49,400 Although the manager at MidCoast supports the college's educational efforts, she is struggling to justify accepting only $34,000. (a) What is the contribution margin from accepting the offer? (b) Should the airline accept the $34,000 offer from the college? Complete this question by entering your answers in the tabs below. Required A Required B What is the contribution margin from accepting the offer? Revenue from trip Variable costs of trip Contribution margin 27,400 Required A Required B >