Paul Swanson has an opportunity to ocquire a franchibe from The Yogurt Plece, incorpotated, to dapense froree yogut products under The Yogurt Place neme. Mc Swanson has assembled the following informetion relating to the franchise: a. A suitable location in a large shopping mall can be rented for $3,800 per month. b. Aemodeling and necessary equ'pment would cost $336,000. The equipmert would have a 20 year life and a $16.800 solvape value. Straight-tine depreciation would be used, ond the salvage value would be considered in compiting depreciation. c. Based on similar outiets oisewhere, Me Swanson essimates that saies would totai $410,000 per yeac ingredients would cost 20% of soles. d. Operating costa would include $21,000 per year for solaries, $4,600 per year for insurance, and $38,000 per yed for utilities. In addition, Mr. Swansan would heve 10 pey a commission to The Yogurt Place, incorporeted of 3 Os of sales Required: 1. Prepere a contribution format income statement thet shows the expected net operating income eacti year from the tranchise outiet. 2-a. Compute the simple rate of retum promised by the outiet. 2b. If Mr Swansan requires a simple rate of return of at least 218 should he acquire the franchise? 3-a. Compute the paybock period on the oulet. 3 -b. If Mc. Swanson wants a poyback of three yeers or less, wat he acquire the franchise? Complete this question by entering your answers in the tabs below. Prepare a contribution format income statement that shows the expected net operating income each year from the franchise sutlet