Take$-$a$-$Break Travel Company offers spring break travel packages to college students. Two of its packages, a $7-$day, $6-$night trip to Cancun and a $5-$day, $4-$night trip to Jamaica, have the following characteristics:

Package Specifications Cancun Jamaica Cost Data

Oceanfront room; number of nights $64$ $$57/$night

Meals:

Breakfasts $64$ $$11/$ea

Lunches $75$ $$16/$ea

Dinners $64$ $$26/$ea

Scuba diving trips $32$ $$76/$ea

Water skiing trips $42$ $$51/$ea

Airfare $($round trip from Miami$)11$ $$320($Cancun$),$

$$500($Jamaica$)$

Transportation to and from airport $11$ $$24($Cancun$),$

$$44($Jamaica$)$

The Cancun trip sells for $$1,760,$ and the Jamaica trip sells for $$1,520,$ and both packages allow two bags to be checked for free.

Required:

$1.$ What are the current profit margins on both trips?

$2.$ Take$-$a$-$Break$$s management believes that it must drop the price of each trip by $$101$ in order to remain competitive in the market. Recalculate profit margins for both packages at these price levels.