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Question 16 05 points A A local dental practice decides to...

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Accounting

Question 16
05 points
A
A local dental practice decides to run a Groupon campaign. The campaign offered $365 worth of dental services (such as teeth whitening) for $135. For the total campaign, 240 coupons were sold. We estimate that 85% of the coupons will be redeemed, that 35% of the coupons will be redeemed by existing customers and that, on average, Groupon fustomers purchased 1.5 coupons. Let's assume that 21% of new customers come back after the Groupon coupon visit. The dental practice estimates its cost of goods sold to be 50%. Finally, the bill for the average Groupon customer was $390. The dental practice negotiated a 50/50 split with Groupon.
Calculate the Groupon campaign profit/loss (+/-).
Answer: (-18,480)
Please show your work for this answer!
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