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: Jamaica Cancun 6 Cost Data 30ight $ Package Specifications Oceanfront room; number of nights Meals: Breakfasts Lunches Dinners Scuba diving trips Water skiing trips Airfare (round trip from Miami) 6 7 6 4 5 4 5 0 2 2 1 $ 5/ea $ 7/ea $ 10/ea $ 15/ea $ 10/ea $ 175 (Cancun), $ 250 (Jamaica) 15(Cancun), $ 10(Jamaica) 1 Transportation to and from airport 1 1 The Cancun trip sells for $750, and the Jamaica trip sells for $690, 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 on the Cancun and Jamaica trips to $710 and $650, respectively, in order to remain competitive in the market. Recalculate profit margins for both packages at these price levels. Required 1 Required 2 What are the current profit margins on both trips? (Round percentage answers to 1 decimal place.) Cancun Jamaica Profit margin Profit margin (%) % % Required 1 Required 2 > Required 1 Required 2 Take-a-Break's management believes that it must drop the price on the Cancun and Jamaica trips to $710 and $650, respectively, in order to remain competitive in the market. Recalculate profit margins for both packages at these price levels. (Round percentage answers to 1 decimal place.) Cancun Jamaica Profit margin Profit margin (%) % %