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Requirements 1. What price should Basset charge for a room-night? What is the markup as a percentage of the full cost of a room-night? 2. Basset's market research indicates that if the price of a room-night determined in requirement 1 is reduced by 15%, the expected number of room-nights Basset could rent would increase by 10%. Should Basset reduce prices by 15% ? Show your calculations. Data table More info The capital invested in the motel is $1,200,000. The partnership's target return on investment is 20%. Basset expects demand for rooms to be uniform throughout the year. He plans to price the rooms at full cost plus a markup on full cost to earn the target return on investment. Requirement 1. What price should Basset charge for a room-night? What is the markup as a percentage of the full cost of a room-night? Begin by selecting the formula, then enter the amounts and solve for the room price per night. +[+[=]=Priceperroom-nightperroom-nigh What is the markup as a percentage of the full cost of a room-night? (Enter the markup as a percentage, X%.) =Markupasa%offullcost=%markup Requirement 2. Basset's market research indicates that if the price of a room-night determined in Requirement 1 is reduced by 15%, the expected number of room-nights Basset could rent would increase by 10%. Should Basset reduce prices by 15% ? Show your calculations Begin by calculating the new contribution margin which will help you make your decision. Select the formula first, then enter the amounts to calculate the contribution margin. (Round the new price per room to two decimal places. Round the contribution margin to the nearest dollar.) New Should Basset reduce prices by 15% ? Because the contribution margin at the reduced price is the original contribution margin at the selling price you calculated in requirement 1. Basset reduce the price of the rooms. Requirements 1. What price should Basset charge for a room-night? What is the markup as a percentage of the full cost of a room-night? 2. Basset's market research indicates that if the price of a room-night determined in requirement 1 is reduced by 15%, the expected number of room-nights Basset could rent would increase by 10%. Should Basset reduce prices by 15% ? Show your calculations. Data table More info The capital invested in the motel is $1,200,000. The partnership's target return on investment is 20%. Basset expects demand for rooms to be uniform throughout the year. He plans to price the rooms at full cost plus a markup on full cost to earn the target return on investment. Requirement 1. What price should Basset charge for a room-night? What is the markup as a percentage of the full cost of a room-night? Begin by selecting the formula, then enter the amounts and solve for the room price per night. +[+[=]=Priceperroom-nightperroom-nigh What is the markup as a percentage of the full cost of a room-night? (Enter the markup as a percentage, X%.) =Markupasa%offullcost=%markup Requirement 2. Basset's market research indicates that if the price of a room-night determined in Requirement 1 is reduced by 15%, the expected number of room-nights Basset could rent would increase by 10%. Should Basset reduce prices by 15% ? Show your calculations Begin by calculating the new contribution margin which will help you make your decision. Select the formula first, then enter the amounts to calculate the contribution margin. (Round the new price per room to two decimal places. Round the contribution margin to the nearest dollar.) New Should Basset reduce prices by 15% ? Because the contribution margin at the reduced price is the original contribution margin at the selling price you calculated in requirement 1. Basset reduce the price of the rooms