You must show all work to receive credit. Answers must be based on class notes and book. The work must be typed (not hand-written). The work must be turned in on Blackboard. Your grade is based on clarity and thoroughness. This assignment is worth 25 points. Due: Friday (Nov 10), by 11:59 pm. Part I Krups is a company that produces kitchen appliances. They have come out with a new toaster oven and are trying to determine an appropriate price. The cost for each toaster oven is $15.00 per unit. 1. If Krups wants to achieve a 25% gross margin, what is the selling price it should charge retailers? 2. What is Krups gross margin per unit (in dollars)? 3. If the retailers raise the price ortoaster ovens to $25.00 per unit retail price, what is the retailer's gross margin? What is their GM\%