22) Ace Shoe Company sells heel replacement kits for men's shoes. It has fixed costs of $6 million and unit variable costs of $5 per pair. Suppose a consultant tells Ace it can sell 700,000 heel repair kits, what price must it charge to achieve a profit of $2.5 million? (Please show your calculation steps

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22) Ace Shoe Company sells heel replacement kits for men's shoes. It has fixed costs of $6 million
and unit variable costs of $5 per pair. Suppose a consultant tells Ace it can sell 700,000 heel repair
kits, what price must it charge to achieve a profit of $2.5 million? (Please show your calculation steps
Transcribed Image Text:22) Ace Shoe Company sells heel replacement kits for men's shoes. It has fixed costs of $6 million and unit variable costs of $5 per pair. Suppose a consultant tells Ace it can sell 700,000 heel repair kits, what price must it charge to achieve a profit of $2.5 million? (Please show your calculation steps
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