WestCo is a major processor of beef and other meat products. The company has a large amount of T-bone steaks on hand, and it is trying to decide whether to sell the T-bone steaks as is or to process them further into filet mignon and New York-cut steaks. Management believes that a pound of T-bone steak would yield the following profit: As mentioned above, instead of being sold as is, the T-bone steaks could be further processed into filet mignon and New York-cut steaks. Cutting one side of a T-bone steak provides the filet mignon, and cutting the other side provides the New York-cut. One 25 ounce T-bone steak cut in this way will yield one 7 ounce filet mignon and one 15 ounce New York-cut; the remaining ounces are waste. The cost of processing the T-bone steaks into these cuts is $4.00 per pound. The filet mignon can be sold retail for $28 per pound, and the New York-cut can be sold wholesale for $24 per pound. a) Determine the profit per 25 ounce steak from processing the T-bone steaks further into filet mignon and New York-cut steaks. Please make sure your final answer(s) are accurate to 2 decimal places