Take-a-Break Travel Company offers spring break travel packages to college students. Two of its packages, a 4-day, 3- night trip to Cancun and a 8-day, 7-night trip to Jamaica, have the following characteristics: Package Specifications Cancun Jamaica Cost Data Oceanfront room; number of nights $ 12ight Meals: Breakfasts $ 4/ea Lunches $ 9/ea Dinners $ 10/ea Scuba diving trips $ 16/ea Water skiing trips $ 11/ea Airfare (round trip from Miami) $ 240(Cancun), $ 315(Jamaica) Transportation to and from airport $ 16(Cancun), $ (Jamaica) mm con 00 7 @ 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.) Cancun Jamaica Profit margin Profit margin (%) % % 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.) Cancun Jamaica Profit margin Profit margin (%) %