Required:

$1-a.$ Calculate the change $in$ income $if$ Tipton closes its wallpaper operation.

$1-b.$ Should Tipton close its wallpaper operation?

$2.$ Assume that Tipton$s$ wallpaper inventory $at$ the time $of$ the closure decision amounted $to$ $$23,700.$ How would you have treated this additional information $in$ making the decision?

$3.$ What advantages might Internet$-$ and magazine$-$based firms have over Tipton that would allow these organizations $to$ offer deeply discounted prices$-$prices far below what Tipton can offer?