Your business plan for your proposed start-up firm envisions first-year revenues of $480,000, fixed costs of $120,000, and variable costs equal to one-third of revenue. a. What are expected profits based on these expectations? (Round your answer to nearest whole number.) b. What is the degree of operating leverage based on the estimate of fixed costs and expected profits? (Round your answer to 2 decimal places.) c. If sales are 10% below expectation, what will be the percentage decrease in profits? (Round your answer to nearest whole number