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: Cancun 6 Jamaica 4 Cost Data $ 55ight + 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 PD WOVO 3 4 2 2 1 4 1 $ 10/ea $ 15/ea $ 25/ea $ 75/ea $ 50/ea $ 375 (Cancun), $ 550 (Jamaica) $ 25 (Cancun), $ 40 (Jamaica) Transportation to and from airport 1 1 The Cancun trip sells for $1,750, and the Jamaica trip sells for $1,500, 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-Breaks management believes that it must drop the price of each trip by $100 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 (i.e. .123 = 12.3%).) = 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 of each trip by $100 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 (i.e. .123 = = 12.3%).) Cancun Jamaica Profit margin Profit margin (%) % %