Note: See the submission requirements of HW Ch. 8 at Canvas>Modules>Chapter 8>Ch. 8 HW. * Show all calculation process. You will earn a zero point without it (8 points) You have been given the following information about a hotel for the next year. The hotel has 40 rooms and expected occupancy rate of 70%. Rooms department, operating expenses, wages, supplies, laundry, and so on is 27% of room sales revenue. 1. a. (5 points) Calculate the hotel's average room rate for next year. b. (3 points) If the hotel operated at 30% double occupancy and management wanted a $17 spread between the single and double room rates, what would these rates be (single and double room rates)? Administrative and general Marketin Energy costs Repairs and maintenance Property taxes Insurance Telephone department operating loss Contributorv income, food and beverage departments First mortgage, at 10% interest, present balance Second mortgage, at 12% interest, present balance Ownership equity (after-tax return of 15% is expected Book value of fixed assets before depreciation charges: $ 38,300 28,900 35,100 28,800 17,600 4,800 9,700 103,200 601,000 402,000 280,000 Land Buildin Furniture and equipment (combined 250,000 1,860.000 382,000 5% 20% 25% Depreciation rate on buildin Depreciation rate on furniture and equipment (combined Income tax rate