Sandy Bank, Incorporated, makes one model of wooden canoe. And, the information for it follows: Number of canoes produced and sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 550 $ 112,750 $ 148,500 $ 261,250 $ 205.00 270.00 $ 475.00 750 $ 153,750 $ 148,500 $ 302,250 $ 205.00 198.00 $ 403.00 900 $ 184,500 $ 148,500 $ 333,000 $ 205.00 165.00 $ 370.00 Sandy Bank sells its canoes for $375 each. Required: 1. Suppose that Sandy Bank raises its selling price to $500 per canoe. Calculate its new break-even point in units and in sales dollars. 2. If Sandy Bank sells 1,600 canoes, compute its margin of safety in dollars and as a percentage of sales. (Use the new sales price of $500) 3. Calculate the number of canoes that Sandy Bank must sell at $500 each to generate $130,000 profit.