Kitchen Appliances is planning to produce an oven. The variable cost for this oven will be $200 while annual fixed costs of $300,000 are expected for production and marketing. Market research has estimated that at a price of p dollars, the demand for the oven would be (20,000,000)p-1.5. a. What is the breakeven price? b. What is the price that maximizes profit? (For convenience, assume that it varies in multiples of $50.) c. If the unit variable cost varies between 200 and 260 in multiple of 10, determine the best price for each. d. Now consider multiple-year cash flows. Suppose that Binghamton Kitchen Appliances incurred an R&D cost of $1,000,000. How many years will it take to breakeven if the oven is priced at the answer found in (b) at a 10% discount rate. (Answer independently of part c.)