Norman Dowd owns his own taxl, for which he bought a $10,000 permit to operate two years ago. Mr. Dowd earns $30,000 a year operating as an Independent but has the opportunity to sell the taxl and permit for $36,500 and take a position as dispatcher for Carter Taxi Co. The dispatcher position pays $27,500 a year for a 40 -hour week. Drlying his own taxl, Mr. Dowd works approximately 55 hours per week. If he sells his business, he will Invest the $36,500 and can earn a 10 percent return. Required a. Determine the opportunlty cost of owning and operating the Independent business. b. Calculate the earnings of Norman Dowd operating as an Independent and the earnings of Norman Dowd working as a dispatcher. Based solely on financlal considerations, should Mr. Dowd sell the taxl and accept the position as dispatcher? Hensely Company, which produces and sells a small digital clock, bases its pricing strategy on a 25 percent markup on total cost. Based on annual production costs for 25,000 unlts of product, computations for the sales price per clock follow. Required a. Hensely has excess capacity and recelves a speclal order for 8,000 clocks for $12 each. Calculate the contribution margin per unit. Based on this, should Hensely accept the speclal order? b. Prepare a contribution margin Income statement for the speclal order. Complete this question by entering your answers in the tabs below. Hensely has excess capacity and receives a special order for 8,000 clocks for $12 each. Calculate the contribution margin per unit. Based on this, should Hensely accept the special order? (Round your answer to 2 decimal places.) Complete this question by entering your answers in the tabs below. Prepare a contribution margin income statement for the special order