Case Study Focusing on PricesEdward's Electronics is a small electronics store selling a variety of electronics equipment. It has a small but progressive camera department.Since Edward's does not sell very many cameras during the year, it only has a small number in stock. Edward's has just ordered six of the new digital cameras from Nikon. Edward's owner has been told that the cost of each camera will be $$170,$ with terms $2/15,$ n$/30.$ The manufacturer's suggested retail price $($MSRP$)$ of each camera is $$400.$ Edward's owner calculates that the overhead is $15\%$ of the MSRP and that the desiredprofit is $18\%$ of the MSRP$.$Staples Canada has a large camera shop in its store in the mall in the same town. It has ordered $70$ of the same cameras from Nikon. Stapleshas been offered both a cash discount and a quantity discount off the list price of $$170.$ The cash discount is $3/20,$ n$/45,$ while the quantity discount is $3\mathrm{.}5\%.$ Staples estimates its overhead is $25\%$ of the MSRP and it would like to make a profit of $35\%$ of the MSRP$.$Questions$1.$ What is the cost per camera $($ignoring taxes$)$ for Edward's Electronics and for Staples?$2.$ For each store, what is the minimum selling price required to cover cost, overhead, and desired profits?$3.$ If Edward's and Staples sell the camera at the MSRP$,$ how much extra profit will each store makea. in dollars?b$.$ as a percent of MSRP$?4.$ What rate of a markdown from MSRP can Edward's offer to cover its overhead and make its originally intended profit?