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A. Life Cycle Costing ABC Electronics Corporation will be expanding its products by manufacturing power banks. It expects to sell these over a period of three years by updating their power bank models throughout the period. Relevant data are as follows: Year 0 Year 1 Year 2 Year 3 Units to be sold 70,000 100,000 60,000 Price per unit 500 600 700 COSTS Research and Development 4,000,000 3,000,000 200,000 Product Design 1,500,000 800,000 400,000 Manufacturing 1,000,000 15,000,000 19,000,000 10,000,000 Marketing 1,000,000 4,000,000 800,000 500,000 Distribution 3,000,000 4,500,000 2,500,000 Customer Service 1,800,000 2,100,000 1,100,000 Incremental Administrative 500,000 2,000,000 2,000,000 1,500,000 Required: 1. Product life cycle income statement indicating the percent of each cost incurred and profit earning for the product (10 points). 2. Interpret the income statement. Is the product profitable (5 points)