Question 1

Tory Company sells a single product. Troy estimates demand and costs at various activity levels as follows:

Units Sold	Price	Total Variable Costs	Fixed Costs
120,000	$48	$3,000,000	$1,000,000
154,500	$45	$3,520,000	$1,000,000
160,000	$40	$4,000,000	$1,000,000
180,000	$35	$4,500,000	$1,000,000
200,000	$30	$5,000,000	$1,000,000

How much profit will Troy have if a price of $45 is charged?

Round to two decimal places.