Question 6: Swiss entrepreneur Herr Zeitgeist buys watch faces from Italy for 5 Euros, watch mechanisms for 15 Euros from Spain, and hires assembly in Portugal for 10 Euros per watch. His only other expense is 100,000 Euros for the Zuricher Flughafen ad agency to place ads in in- flight magazines to build the Zeitgeist brand. Herr Zeitgeist sells each watch for 50 Euros to airport duty-free shops, earning the retailer an 80% margin. What is his breakeven volume?