Peter runs a photographic studio. Clients book a one-hour studio session and are entitled to receive two large photographs of their choice form the sitting. Peter has provided the following information regarding his business: Identify Peters fixed cost and calculate the total fixed cost he will incur each year.

1. The rent of the studio is 12,000 per annum.
2. Peters employees two full-time photographers, each paid a salary of 22,000 per annum.
3. He employs one photographic technician for one day a week. He is paid 120 per day, 6,240 per annum.
4. Advertising costs are 550 per annum.
5. Electricity costs are 1,100 per annum plus 4 per client hour. Each sitting takes two hours.
6. Peter works as a receptionist and general manager of the business and is paid 16,000 per annum.
7. Fixtures, fittings, and equipment originally cost Peter 12,800 and will depreciate by 2,500 per annum.
8. Peter expects to have 1,300 sittings per year; each sitting is charged at 80. (Identify Peters fixed cost and calculate the total fixed cost he will incur each year.)