Part I: Suppose the market for Cheerwine is in equilibrium at $15 and 100 units. The government has decided to assign a $5 excise tax to Cheerwine. If this tax is absorbed by producers, quantity supplied will fall to 75 units. If this tax is passed on to consumers through higher prices, quantity demanded will fall to 90 units. Calculate the price elasticity of demand, assuming consumers pay the entire tax. Round your answer to the second decimal place. Report the absolute value