Part $1(1$ point$)$

Suppose at a price of $$4\mathrm{.}99,$ IKEA sells $10$ umbrellas per day. When it rains and the store cuts the price to $$2\mathrm{.}50$ it sells $12$ umbrellas. Use the midpoint method to calculate the price elasticity of demand $($round your final answer to two decimal places$).$

$E_D=$

Part $2(1$ point$)$

As a result of the price change, total revenue will change by $ $($round your answer to two decimal places$).$