Stay - a - While operates an uptown parking lot containing 1,000 parking spaces. The lot is open 5,000 hours per year. The parking charge per year is exist1 per hour: the average customer parks two hours. Stay - a - While rents the lot for exist6,000 per month. The lot supervisor is paid exist25,000 per year. Six employees who handle the parking of cars are paid exist400 per week for 50 weeks, plus exist800 each for the two-week vacation period. Employees rotate vacations during the slow months when four employees can handle the reduced load of traffic. Lot maintenance, payroll taxes, and other costs of operating the parking lot include fixed costs of exist2,000 per month and variable costs of 4 cents per parking - space hour. a. Draw a cost-volume-profit graph for Stay - a - While on an annual basis. Use thousands of parking - space hours as the measure of volume of activity. [Stay - a - While has an annual capacity of 5 million parking - space hours (1,000 spaces x 5,000 hours per year).] b. What is the contribution margin ratio? What is the annual break-even point in dollars of parking revenue? c. Suppose that the six employees were taken off the hourly wage basis and paid 40 cents per car parked, with the same vacation pay as before. (1) How would this change the contribution margin ratio and total fixed costs? (2) What annual sales revenue would be necessary to produce operating income of exist200,000 under these circumstances