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Question 1: (80 Marks, 20 each) Chicago Cubs a league baseball team, play their weekly...

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Question 1: (80 Marks, 20 each) Chicago Cubs a league baseball team, play their weekly games in small stadium just outside Chicago. The stadium can hold up to 15 000 people and tickets sells for 10$ each. The franchise owner estimates that the team's annual fixed expenses are 90 0005 and the variable expense per ticket sold is 28. Required: A. Determine how many tickets must the baseball franchise sell to break-even? B. Determine how many tickets must the franchise sell to earn a target profit of S15,000? c. What is the safety margin for the baseball franchise if the team plays a mid-season game and the team owner expects the stadium to be 90% full? D. Prepare a fully labeled CVP graph for the Chicago Cubs (label the axes; the break-even point; all the different expenses and the profit and loss areas)

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