Tulip Company is made up of two divisions: A and B. Division A produces a widget that Division B uses in the production of its product. Variable cost per widget is $1.25; full cost is $2.00. Comparable widgets sell on the open market for $2.60 each Division A can produce up to 2.40 million widgets per year but is currently operating at only 50 percent capacity. Division B expects to use 120,000 widgets in the current year Required 1. Determine the minimum and maximum transfer prices. (Enter your answers to 2 decimal places.) Minimum Transfet Price Maximum Transfer Price 2. Calculate Tulip Company's total benefit of having the widgets transferred between these divisions 3. If the transfer price is set at $1.25 per unit, determine how much profit Division A will make on the transfer Determine how much Division B will save by not purchasing the widgets on the open market. (Round your answers to 2 decimal places.) Divisign A Profit Division B Savings 4. If the transfer price is set at $2.60 per unit, determine how much profit Division A will make on the transfer Determine how much Division B will save by not purchasing the widgets on the open market (Round your answers to 2 decimal places.) Division A Profe Division BEavings 5. What transfer price would you recommend to split the difference? (Round your answer to 3 decimal places)