QUESTION 3 The monthly fixed costs at the Michaelmas Hotel are $50,000 with a $20 variable cost per room sold. If 1,000 room are sold in July at an average selling price of $100 per room sold, what would be the hotel's net income (or loss) for the month? a $70,000 net income b.$30,000 net income c. $50,000 net income d. $20,000 net loss