Answer the following questions using the book and your notes. Formulas are provided. Either fill out in Word or take a screenshot. Then flle upload under Coursework in LEO by due date Sue is thinking about giving horseback riding lessons. She has figured her costs per lesson will be $30. Advertising is $300 per month and rental is $1,500. 1. If Sue charges $60 per lesson, what is her contribution per unit (Contribution per unit Selling Price - Variable Cost)? 2. Using the $60 per lesson price. what is her mark-up on selling price (MUsp=(SPC)/SP)? 3. How many riders per month would Sue need in order to break even (BE=FC+ (Desired Profit)/(SP-VC))? 4. How many riders per month would Sue need if she wanted a profit of $3,000 ? 5. Suppose Sue raised her lesson price to $70. How many riders would she need now in order to still have a profit of $3,000 ? 6. Assume at the $60 per lesson price, Sue gets 300 riders a month. What is her total contribution (contribution per unit x units sold = total contribution)? 7. If Sue raises her price to $70 she estimates she would drop down to only 225 riders per month. Should she raise the price? Why or why not