Problem 20-1A Midlands Inc. had a bad year in 2016. For the first time in its history, it operated at a loss. The company's income statement showed the following results from selling 80,000 units of product: net sales $2,000,000; total costs and expenses $2,235,000; and net loss $235,000. Costs and expenses consisted of the following Total Variable Fixed Cost of goods sold Selling expenses Administrative expenses $1,568,000 517,000 150,000 $2,235,000 $1,050,000 92,000 58,000 $518,000 425,000 92,000 $1,200,000 $1,055.000 $1,035,000 Management is considering the following independent alternatives for 2017. I. Increase unit selling price 25% with no change in costs and expenses 2. Change the compensation of salespersons from fixed annual salaries totaling $200,000 to total salaries of $40,000 plus a 5% commission on net sales 3. Purchase new high-tech factory machinery that will change the proportion betwn variable and fixed cost of goods sold to 50:50 (a) Compute the break-even point in dollars for 2016. (Round contribution margin ratio to 2 decimal places e.g.0.25 and final answer to 0 decimal places, e.g. 2,510.) Break-even point