6. Profit Maximization for an e-Book. Consider again Problem 3. Through a series of web-based experiments, Eastman has created a predictive model that estimates demand as a function of price. The predictive model is demand 54,000 26p, where p is the price of the e-book.

a. Update your spreadsheet model constructed for Problem 3 to take into account this demand function.

b. Use Goal Seek to calculate the price that results in breakeven.

c. Use a data table that varies price from $50 to $400 in increments of $25 to find the price that maximizes profit.