ocial Media, Inc. (SMI) has two services for users. Toot!, which connects tuters with students who are looking for tutoring services, and TiX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! TiX Total Users 6,200 14,900 21,100 Revenues $ 1,250,000 $ 880,000 $ 2,130,000 Engineering hours 6,275 4,275 10,550 Engineering cost $ 269,750 $ 389,625 $ 659,375 Administrative costs $ 527,500 Required: a. Compute the predetermined overhead rate used to apply administrative costs to the two services assuming SMI uses the engineering hours to allocate administrative costs. b. Based on the rates computed in requirement (a), what is the profit for each service?