Question 6 (3 points) An entrepreneur recently purchased Cocoon's, a local deli, on the beach. To operate the business, she estimates that selling and administrative expenses will be $100,000 per year and that depreciation will be $20,000 per year. As part of her purchase, she took out a bank loan that will require $90,000 per year in interest. She anticipates paying a 30.9% tax rate on income. She estimates that the deli will attract 300 customers per day. Each customer will spend $12.00 on average. The cost of goods per customer will be $4.50. She will operate the deli 350 days per year What is the projected net profit margin (not dollar amount) for the deli? Format 12.3% as 12.3 Your Answer: Answer Question 7 (3 points) Top Rope Productions has 4.7 million shares outstanding that currently trade at $10.50. The firm has $18 million of long-term debt, and $3.00 milion in cash. What is a rough estimate for the firm's enterprise value? (Express answer in millions. For example. $1,000.000 would be 1.00) Your Answer Answer Question 8 (3 points) 0 . o