Q1. Apple has the following economic data associated with the iPhone X: Selling Price = $999 Cost of Components = $357.50 Cost of Assembly = $7.5 Estimated Cost of Manufacturing = $52.50 Estimated Research and Development = $2.632 billion (to be amortised over a year) Estimated Shipping Costs = $5.50 (Components and finished product) Apple sold 30 million iPhone X models in this quarter. Assume that sales decrease by 10% for each of the successive 3 quarters. a) Classify each bullet point as a fixed or variable cost. Which of the points are neither? b) Find the breakeven point for the data provided for a single year. (Number of phones) c) How much profit (in $) is Apple expected to make based on the number of iPhone X models that are expected to be sold by the end of the year