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Mountain Water Park is planning their budget for the year. Owners would like to earn a 1 5 % return on the company's $ 5

Mountain Water Park is planning their budget for the year. Owners would like to earn a
15% return on the company's $500,000 of assets. Fixed costs are budgeted to be
$250,000 for year. 200,000 total daily visits are expected each year. Variable costs are
about $9 per daily visit. Mountain Water Park has a favorable reputation in the area given
the great mountain views and thrilling waterslides and therefore, has some control over
the price of admission. Visitors pay single admission fee for a day's worth of access to the
park.
Based on their budget and goals, how much should they charge per daily admission
ticket? Round your answer to the nearest cent (e.g.,1.23).
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