only requiring answer for question #2, but included question #1 for information

1. Following is information on Hotel 2313's annual operating statistics. Number of Rooms: 100 Occupancy Rate: 50% Required Net Income for Investors: 200,000 Tax Rate: 30% Fixed Costs include: - Depreciation expense: $250,000 - Property tax: $45,000 - Operating Costs: $751,800 Variable Cost %=40% The hotel receives lease income from the restaurant annually: $55,000 Double Occupancy Rate: 50% a) What would be the appropriate room rate (ADR) in order to obtain the required Net Income? b) The hotel has double and single rooms. Management wants to differentiate the room rates by $5. What should be the single and double rates ? 2. Suppose, for Hotel 2313 in problem 1, you have the following information on sizes of the rooms. If Hotel 2313 would like to differentiate the single and double rates based on the room size, what should be the rates? - 60 single rooms that are 200 sqft. - 40 double rooms that are 250 sqft