Norwood Industries has annual fixed costs of $1.8 million. Unit variable costs are currently 55% of selling price. Answer to the nearest million and .01%

1. What annual revenue is required to breakeven?(2 marks)

2. What annual revenue would produce a loss of $100 000 in a year?(2 marks)

3. What annual revenue would produce a profit of $300 000?(2 marks)

4. If prices are increased by 10%, but total revenue remains at the value determined in (c), what will be the percent change in sales volume?(3 marks)

5. The balance, including interest, after 11 months, on a loan at 9.9% interest is $15,379.58. What are the principal and interest components of the balance?(3 marks)