Question: 4. 8.4 Jake buys items using his eBay.com account for other people. Last year he purchased 310 items at an average cost of $35.00 per

4. 8.4 Jake buys items using his eBay.com account for other people. Last year he purchased 310 items at an average cost of $35.00 per item; plus he charges a 15% fee for each item he purchases for others. He figures his setup at home has a fixed cost of $50.00 per day (220 work days per year) and a varible cost of $1.50 per item.

(a) How many items did he buy compared to his breakeven point?

(b) What was his net profit or loss for the year?

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