Question 4 (1 point) A university is planning to hold an event at a local venue, which will charge a fixed rental fee of $705 for the event plus $19.40 per guest for food. The university has budgeted $950 for administrative and marketing expenses. It plans to hire a band, which will cost another $540. Tickets are expected to sell for $42.80 per guest. Ignore taxes. What is the degree of operating leverage if 259 guests attend? 1.53 1.57 O 1.61 1.65 1.69