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Second Time Round Accounting specialises in second hand accounting and business text books. Sales volume last year amounted to 54,000 texts. The company's annual fixed expenses are $240,000. The average sales price of a second hand text is $30. It costs the company $17 to acquire each text. The books are sold by university students who are paid a sales commission of 10% of sales revenue. Required: 1. Calculate the number of texts that Second Time Round would have needed to sell in order to break-even. (5 marks) 2. What was Second Time Round's profit last year? (3 marks) 3. How much sales revenue must the company generate in order to earn a target net profit (before tax) of $340,000 last year? 3. How much sales revenue must the company generate in order to earn a target net profit (before tax) of $340,000 last year? (2 marks) 4. This year Second Time Round is considering an advertising campaign involving a letter box drop in the area of all inner city universities and a reduced selling price. The cost of pamphlets and their distribution will amount to $10,000. The price of each text will be advertised at $28. If Second Time Round implement the advertising campaign and drop the price of each text, how many additional texts will they need to sell in order to achieve the same net profit as last year