Please show calculations so partial credit can be awarded! Exam is due on Tuesday, December 10 at 9am, hand delivered to our exam meeting. Anything submitted late will receive an automatic five point deduction for each hour late. Problem #1 Able Elf Services has offered to do all the toy assembly and gift wrap for Santa's elves. The annual fee for this service is $26,000. This outside service will replace 10 elves who work for $5 per hour, 50 hours per week. The operation is open for 10 weeks. Giftwrap costs about $3,000 per holiday season but will be paid separately by Santa regardless of his course of action. Should Santa replace his elves with an outsourced toy assembly / gift wrap company? Draft a memo to the North Pole suggesting the proper course of action. You can address qualitative and quantitative factors. Show calculations to support your recommendation. (30 points) Please show calculations so partial credit can be awarded! Exam is due on Tuesday, December 10 at 9am, hand delivered to our exam meeting. Anything submitted late will receive an automatic five point deduction for each hour late. Problem #1 Able Elf Services has offered to do all the toy assembly and gift wrap for Santa's elves. The annual fee for this service is $26,000. This outside service will replace 10 elves who work for $5 per hour, 50 hours per week. The operation is open for 10 weeks. Giftwrap costs about $3,000 per holiday season but will be paid separately by Santa regardless of his course of action. Should Santa replace his elves with an outsourced toy assembly / gift wrap company? Draft a memo to the North Pole suggesting the proper course of action. You can address qualitative and quantitative factors. Show calculations to support your recommendation. (30 points)