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EiacI-t to Assignment Attempts |:|:|:| Do No Harm f1 6. Individual Problems 56 In early 2008, you purchased and remodeled a 120room hotel to handle the increased number of convenons coming to town. By mid2008, it became apparent that the recession would kill the demand for conventions. Now, you forecast that you will be able to sell only 10,000 roomnights, which cost $70 per room per night to service. You spent $25.00 million on the hotel in 2008, and your cost of capital is 10%. The current going price to sell the hotel is $20 million. If the estimated demand is 10,000 room-nights, the breakeven price is per room, per night. (Hint: Remember that the cost of capital is the opportunity cost, or true cost, of making an investment.) Continue without saying