Please read the requirements and do those too!

= Homework: CHAPTER M-8 Question 5, PM8-32B (book/static) Part 1 of 4 HW Score: 0%, 0 of 5 points O Points: 0 of 1 O Save Elm Petroleum has spent $204,000 to refine 61,000 gallons of petroleum distillate, which can be sold for $6.30 per gallon. Alternatively, Elm can process the distillate further and produce 58,000 gallons of cleaner fluid. The additional processing will cost $1.80 per gallon of distillate. The cleaner fluid can be sold for $9.10 per gallon. To sell cleaner fluid, Elm must pay a sales commission of $0.10 per gallon and a transportation charge of $0.16 per gallon. Read the requirements. . Requirement 1. Fill in the diagram for Elm's alternatives. Revenues from selling as is Requirements Joint costs of producing 61,000 1. Fill in the diagram for Elm's alternatives. 2. Identify the sunk cost. Is the sunk cost relevant to Elm's decision? 3. Should Elm sell the petroleum distillate or process it into cleaner fluid? Show the expected net revenue difference between the two alternatives. gallons of petroleum distillate Cost of Revenues from processing further processing further Print Done