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## Finance

 Basic Finance Corporate Finance Financial Management Financial Econometrics Portfolio Management Risk Management Public Finance Business Law & Ethics

Southeast U's campus book store sells course packs for \$15.00 each, the variable cost per pack is \$11.00, fixed costs for this operation are \$300,000, and annual sales are 100,000 packs. The unit variable cost consists of a \$4.00 royalty payment, VR, per pack to professors plus other variable costs of VO = \$7.00. The royalty payment is negotiable. The book store's directors believe that the store should earn a profit margin of 10% on sales, and they want the store's managers to pay a royalty rate that will produce that profit margin. What royalty per pack would permit the store to earn a 10% profit margin on course packs, other things held constant?

a.\$2.55
b.\$2.84
c.\$3.15
d.\$3.50
e.\$3.85

Basic Finance, Finance

• Category:- Basic Finance
• Reference No.:- M946916

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