Take-a-Break Travel Company offers spring break travel packages to college students. Two of its packages, a 5-day, 4-night trip to Cancun and a 7-day, 6-night trip to Jamaica, have the following characteristics: Package Specifications Oceanfront room; number of nights Meals: Breakfasts Lunches Dinners Scuba diving trips Water skiing trips Airfare (round trip from Miami) Transportation to and from airport Cancun 4 Jamaica 6 Cost Data $ 16ight 4 6 $ 4/ea 3 6 $ 8/ea 8 0 $ 10/ea 7 4 $ 18/ea 9 5 $ 13/ea 1 1 $ 220 (Cancun), $ 295 (Jamaica) 1 1 $ $ 18(Cancun), 13(Jamaica) The Cancun trip sells for $800, and the Jamaica trip sells for $740, 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 $760 and $710, respectively, in order to remain competitive in the market. Recalculate profit margins for both packages at these price levels. Complete this question by entering your answers in the tabs below. Required 1 Required 2 What are the current profit margins on both trips? (Round percentage answers to 1 decimal place.) Profit margin Profit margin (%) Cancun % Jamaica % Required 1 Required 2 Cancun and a 7-day, 6-night trip to Jamaica, have the following characteristics: Package Specifications Oceanfront room; number of nights Meals: Breakfasts Lunches Dinners Scuba diving trips Water skiing trips Airfare (round trip from Miami) Transportation to and from airport Cancun Jamaica Cost Data 4 6 $ 16ight 4 6 $ 4/ea 3 6 $ 8/ea 8 0 $ 10/ea 7 4 $ 18/ea 9 5 $ 13/ea 1 1 $ 220(Cancun), $295 (Jamaica) 1 1 $ 18(Cancun), $ 13(Jamaica) The Cancun trip sells for $800, and the Jamaica trip sells for $740, 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 $760 and $710, respectively, in order to remain competitive in the market. Recalculate profit margins for both packages at these price levels. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Take-a-Break's management believes that it must drop the price on the Cancun and Jamaica trips to $760 and $710, 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.) Profit margin Profit margin (%) Cancun Jamaica % %