Consider this conversation between two work colleagues: Susan: Hey Gary, what did you say you needed these other selling prices for again? Gary: I'm trying to figure out if my potential customers will be willing to pay what I want to charge for my clever upgrade to plastic storage containers. Susan: Oh, wow, that sounds super exciting; thanks for including me in this analysis. Gary: You just wait, Susan. I'm going to make a dent in this market, and then we'll see who retires at age 45 ! Susan gathered the following selling price information about other plastic storage containers on the market. Competitor 913 Plastic Containers with Lid $12, lid fits tightly but is not spill-proof $15, lid is spill-proof but snaps on loudly $10, lid just rests on top so is not tight-fitting However, without access to competitors' internal records, she could not determine their costs. Meanwhile, Gary made note of his production costs and secretly smiled to himself as he thought about what a great idea he had. He wants to make plastic storage containers that have a locking lid. More than that, the lid locks quietly, so no one knows you're sneaking a treat from the container (yes, Gary got busted stealing Susan's famous chocolate cookies, and he vowed to fix this problem permanently). Here's his estimated costs to produce and sell one 913 plastic container with quiet, spill-proof lid: Gary: You just wait, Susan. I'm going to make a dent in this market, and then we'll see who retires at age 45 ! Susan gathered the following selling price information about other plastic storage containers on the market. Competitor 913 Plastic Containers with Lid $12, lid fits tightly but is not spill-proof $15, lid is spill-proof but snaps on loudly $10, lid just rests on top so is not tight-fitting However, without access to competitors' internal records, she could not determine their costs. Meanwhile, Gary made note of his production costs and secretly smileri to himself as he thought about what a great idea he had. He wants to make plastic storage containers that have a locking lid. More than that, the lid locks quietly, so no one knows you're sneaking a treat from the container (yes, Gary got busted stealing Susan's famous chocolate cookies, and he vowed to fix this problem permanently). Here's his estimated costs to produce and sell one 913 plastic container with quiet, spill-proof lid: Gary realizes that with some time and production experience, he can reduce his DM and MOH costs by 30% each, but that will take at least a year to achieve. If he uses the same markup percentage as before, how much would the new selling price be in one year's time? If instead, Gary keeps the selling price the same as determined in part (a) but also realizes these cost savings, what markup percentage would he be earning? (Round selling price to 2Ydecimal places, e.g. 15.25 and markup percentage to 0 decimal places, e.g. 15\%.) Selling price $ Markup percentage % eTextbook and Media Last saved 12 hours ago. Attempts: 0 of 3 used Saved work will be auto-submitted on the due date. Auto