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24) Murphy Productions is a price-taker. The company produces generators in a highly competitive market; thus, it uses target pricing. The current market price is $600 per unit. The company has $18,500,000 in average assets, and the desired profit is a return of 8% on assets. Assume all products produced are sold. The company provides the following information: Sales volume Variable costs Fixed costs 65,000 units per year $500 per unit $7,500,0od per year Currently the cost structure is such that the company cannot achiev costs. If variable costs cannot be reduced, how much reduction in fixed costs will be needed to achieve the desired target? Show all computations. (5 points)