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QUESTION 1 (4 marks) Cappadocia Balloon Rides Ltd is considering selling hot air balloon rides next year in January 2022. The following information is relevant:

QUESTION 1 (4 marks) Cappadocia Balloon Rides Ltd is considering selling hot air balloon rides next year in January 2022. The following information is relevant: Lease of the hot air balloons $7,500,000 Hot air balloon rides fee charged to a customer $1,500 Fuel cost per air hot balloon rides $100 Set up cost per air hot balloon rides $200 REQUIRED: a) How many balloon rides will Cappadocia Balloon Rides Ltd need to provide in order to break-even? (show workings)

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