Suck-It-Up, Inc. is a wholesale distributor specializing in vacuum cleaners. Suck-It-Up purchases their vacuum cleaners direct from the manufacturer and distributes them to a variety of retailers for sale to end consumers. One of the manufacturers that Suck-It-Up partners with has approached them about distributing a new vacuum cleaner. The manufacturer has offered to sell the new vacuum cleaner to Suck-It-Up for $200.00 per unit. The manufacturer's suggested retail price for the new vacuum cleaner is $500.00. Suck-It-Up is considering accepting the manufacturer's offer and selling the new vacuum cleaner to their retail partners for a wholesale price of $300.00, which is around the price they usually charge for their vacuum cleaners. 1. What is Suck-It-Up's markup on the vacuum cleaner? Assuming that Suck-It-Up's retail partners will sell the new vacuum cleaner at the manufacturer's suggested retail price. what will the retailers' markup be? 2. What percentage of the retail price will the retailers keep? What percentage of the retail price will Suck-It-Up receive? What percentage of the wholesale price will Suck-It-Up keep? What percentage of the wholesale price will the manufacturer receive? 4 What will Suck-It-Up's contribution margin on the new vacuum cleaner be? s. Suck-It-Up is concerned that this contribution margin is too low for them. If they want to earn a contribution margin of 45%, what price would they need to charge their retail partners for the new vacuum cleaner? 6. Suck-It-Up's retailer partners are used to paying around $300 for a vacuum cleaner, but Suck-It-Up would like to earn a contribution margin closer to 45%. You have been tasked with deciding what price to charge your retail partners for the new vacuum cleaner. What price will you charge and why? Write a paragraph explaining your decision