Tutor, Incorporated (TI) provides instructional services to its customers. TI charges $250 per student. The Company expects to serve 750 students during the coming year. All of the Company's expenses are fixed. Total annual fixed costs are projected to be $85,000. If the estimated number of students decreases by 20%, net income will

Note: Round your final answer to the nearest percent.

Multiple Choice

increase by 37%.

increase by 20%.

decrease by 37%.

decrease by 20%.