Please provide step by step solutions for the following:

QS. Michael Kors produces and sells riding boots. The marketing division (the downstream division) of Michael Kors has the following direct market demand equation: (1 = 392 - 2P, where Q is the number of pairs of boots and P is the price of a pair of boots. Production of each pair of boots requires 1 square yard of leather. The leather is shaped and cut by the Form division of Michael Kors (the upstream division). The Form division's only customer is the marketing division. The total cost function for leather is TC\" = 0.50?- + 10(3)u 4- 2 where QU is the quantity of leather produced. The total cost of assembling and selling boots (excluding the Ighgr) is TCD = 202 + 60 + 4 Write down the prot equations of downstream division (11D), upstream division (TI'U), and total prots (Tr). Calculate the prot-maximizing quantity of boots (0*), quantity of leather (Q*U) and price of boots (P*) Q\" = units. Q\"U = units. P" = $ What is the optimal transfer price (P)? (P6): 5 Using the prot equations derived previously , calculate the prots earned by the upstream division (TIU), the downstream division (no), and total prots (Tr,_