You are the owner of a parasailing company that is expanding operations to a new beachfront location, and you need to prepare a 3-year analysis for the bank that may loan you the funds to purchase your boat and parasailing equipment. A lot of business is done on a referral basis, where a company pays a fee to a 3rd party to send them customers. However, because of your well-established reputation, you already have received requests for “flights” to be scheduled as soon as you open the new location. Therefore, you expect to break-even the first year but must calculate the number of flights needed. You also need to determine the new break-even point in Year 2 if the location allows referrals, which you believe will cost on average about 2% of the sales price overall. Finally, you need to determine the volume needed to have $10,000 in profit in Year 3. The following information is available:

Sales price per flight $175
Estimated loan payment per month $350
Fuel costs per flight $100
Full-time scheduler salary $2,500 per month
Boat crew per flight $30
$500 per month dock fee and use of a small office on a pier

Calculate the Year 1 break-even quantity, contribution margin, and contribution margin ratio. Explain how the values were determined.
Calculate the Year 2 break-even quantity, break-even sales, and contribution margin ratio. Explain how the values were determined.
Determine the number of flights (units) needed to retain a profit of $10,000 in Year 3, assuming the company does allow for referrals.
Recommend if the bank should issue the loan.

Answers

Answer 1

YEAR 1-

Contribution margin = sales price per flight- Variable cost per flight

                                    = $175 - ($100+ $30)

                                    = $45

Annual fixed cost = (Loan payment + Schedule salary+ dock fees) times 12months

                               = ($350+ $2500+ $500)*12

                               = $40200

Break even quantity = Annual fixed cost / contribution per flight

                                   = $40200/ $45

                                   =893 flights (Approx)

Contribution margin ratio = (contribution per flight/ sales per flight)*100

                                             = ($45/$175)*100

                                             = 25.71%

Contribution margin= $40200

YEAR 2

Break even quantity= $40200/ $41.5

                                   = 968 flights (approx)

          Contribution per flight= $175- ($100 + $30+ {175* 2%})

                                                 = $41.5

Contribution margin ratio= ($41.5/ $175)* 100

                                                     = 23.71%

YEAR 3

No of flights needed to retain profit of $10000

No of flights needed = (fixed cost + profit)/ contribution per flight

                                     = ($40200 + $10000)/$45

                                     = 1115 flights needed (approx)

Yes bank should issue the loan.

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Related Questions

what is the price of a two year bond with a 9% annual coupon and a yield to maturity of 8%​

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Based on the period of the bond, the coupon rate, and the yield to maturity, the price of the bond is $1,017.83.

How much does the bond sell for?

This can be found as:

= Present value of coupon payments + Present value of par value

Coupon is:

= 9% x 1,000 par value

= $90

Note: When par value is not given, assume it is $1,000.

Price is:

= (90 / (1 + 8%)) + (90 / (1 + 8%)²) + (1,000 / (1 + 8%)²)

= 160.4938 + 857.3388

= $1,017.83

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How to increase a website traffic

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To increase traffic on a website you should be more focused towards your content and how do you present your content.

So, for starters, here are the top ten methods and my recommended tactics :

1. Conduct research and create a list of challenging keywords

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State and explain 4 way by which a contruct
Can be discharged

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Contracts can be discharged by performance: complete performance discharges both sides; material breach discharges the breaching party, who has a right to claim damages; substantial performance obligates the promisee to pay something for the benefit conferred but is a breach.

. Suppose you are given a privilege to choose between Capitalism and Socialism as an economic system to be followed in Ethiopia. Which do you choose? Support your answer with at least five justifications.

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The system that would be chosen between Capitalism and socialism is capitalism.

Why Capitalism is chosen over socialismThe people of the nation have the right to make economic choices based on production.The demand and the supply of goods are rested in the hands of the people instead of the government.It allows for private ownership of properties unlike socialism.It encourages the people to be innovative as well as efficient.It provides for growth and freedom in the economy.

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Households can sign up for a telemarketing “no-call list.” How might households who sign up differ from those who don’t? What biases might this create for telemarketers promoting (a) financial planning services, (b) carpet cleaning services, and (c) vacation travel packages?

Answers

Answer:

business in good in grenada

a) Households that sign up for the "no-call list" might be more privacy-conscious and value their time.

b) Households on the "no-call list" might be more concerned about privacy and unwanted interruptions, making them less receptive to telemarketing calls promoting carpet cleaning services.

c) Households on the "no-call list" may be less inclined to entertain unsolicited offers for vacation travel packages, as they might prefer to plan their trips on their own terms or through trusted travel agencies.

(a) Financial Planning Services:

They may be less interested in unsolicited calls and prefer to research and seek financial services on their own terms. This could lead to biased telemarketing as financial planners might have fewer leads and potential clients, limiting their outreach to only those who are open to unsolicited calls or who haven't signed up for the list. This can result in missing out on potential clients who might have been interested but are unreachable due to the "no-call list."

(b) Carpet Cleaning Services:

As a result, telemarketers might face challenges reaching potential customers and might need to rely more on alternative marketing channels. This could create a bias in favor of households that haven't signed up for the list, potentially leading to a more favorable response rate from those individuals.

(c) Vacation Travel Packages:

This bias could lead to a decreased likelihood of telemarketers successfully promoting travel packages to households on the list. Telemarketers might need to focus their efforts on households not on the list, potentially affecting the diversity of their clientele and sales.

Overall, the "no-call list" can introduce biases in telemarketing efforts, favoring households that haven't signed up for the list.

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The bid price is $0.64 for the Canadian dollar and the ask price is $0.68 for the Canadian dollar. What is the bid-ask spread for the Canadian dollar?
O a. 6.25%
O b. 8.75%
O c. 5.25%
O d. 6.77%
O e. 7.77% ​

Answers

Answer:

Explanation:

The way this is normally done is to take the difference between the bid price and the ask price and divide by the ask price. That answer is not listed. What is listed is the difference divided by the bid price which is (.68 -.64)/.64 That gives 0.0625. To get a % multiply by 100..That gives 6.25% which is A.

So that is the best I can do for you.. Done the way I first suggested gives 5.88% which isn't there.

5. One-year interest rates are 2% in the U.S. and 5% in Canada. “Jackie the carry trader” borrows $3,000,000 to execute a carry trade. At the start, the exchange rate is $.881/CAD. After one year, the exchange rate is $.865/CAD

A. What is Jackie’s USD profit or loss over the year?



B. When Jackie starts this trade, she is hoping that the Canadian dollar doesn’t ______________.




C. When Jackie starts this trade, she is hoping that the USD doesn’t
______________.




D. What is the BEEX in one year? (place in terms of USD/CAD to 4 decimal places)

Answers

A)

Firstly convert $3000000 into CAD

          So, CAD is 3405221.33938

Invest CAD  in Canada 5% for 1 yearIn t= 1yr realize canadian investment with interest so, CAD  on maturity

        = CAD 3405221.33938 (1+ 0.05)

        = CAD 3575482.40634

Again now convert CAD into US $ so, equivalent  US $ realised on conversion = CAD 3575482.40634 * $0.865/ CAD

                            = $ 3092792.28148

US repayment = $ 3000000*(1+ 0.02)

                                  = $ 3060000

That's why,

Profit over the year = $3092792.28148- $3060000

                                  = $32792.28148

B) doesn't depreciates relative to USD

C) appreciates relative to Canadian dollar

D) BEEX = US$ borrowings to be repaid with interest/ CAD realized with interest on maturity

               = $3060000/ CAD 3575482.40634

               = 0.8558

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On a per unit basis economic profit can be determined as the difference between?

Answers

Product price and average total cost.

how to write an effective persuasive claims and complaints message

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An effective persuasive claims and complaints system starts with a real compliment, a factual description of the issue, or a point of agreement.

What are the Complaint messages?

A complaint message is a message that details damage, defects, or blunders that occurred with the given items and requests reimbursement.

Thus, an effective complaints message starts with a real compliment, a factual description of the issue, or a point of agreement.

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Capitalization of interest is adding accrued
interest to the principal balance, so that the
interest-bearing principal balance of the loan
increases. True or false

Answers

It is true that capitalization of interest is adding accrued interest to the principal balance,  so that the interest-bearing principal balance of the loan increases.

What is interest capitalization?

This is when an unpaid interest is rolled over with the principal amount, which increase the overall amount to be paid. It is the inclusion of an unpaid interest to the principal balance of the loan taken.

Hence, Capitalization of interest is adding accrued interest to the principal balance,  so that the interest-bearing principal balance of the loan increases.

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How do you calculate sales tax? How do you calculate a discount? Please explain and give examples. Thanks!

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Sales tax is calculated using tax rate . Discount is calculated using the selling price and list price of the item .

How do you calculate sales tax?

Add the tax rate to the cost of your good or service. If the tax rate is expressed as a percentage, convert it to decimal form by multiplying the result by 100. Then multiply this number using the formula below.

Find the list price and the tax rate.To obtain the tax rate as a decimal, divide the tax percentage by 100.To calculate tax, multiply the list price by the decimal tax rate.For the final price, multiply the list price by the tax rate.

Ex. If you spend $400 on a new television and live in a region where sales tax is 7%, you would be required to pay $28 in sales tax. The total cost to you would be $428.

How do you calculate a discount?

The price difference between an item's listed price (list price) and its selling price is known as the discount. Discount is therefore calculated as follows: Discount = List price - selling price.

Ex. A product may be discounted by $10 from its list price, which is equivalent to a 10% discount.

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The numbers of suitcases loaded onto various airplanes are an example of which type of data?

Answers

Answer:Volume

I think

Explanation:

Which of the following actions would be an acceptable response by the Federal Reserve to an economic downturn?
O Decrease the reserve requirement
O Increase the reserve requirement
Raise the discount rate
Sell government securities

Answers

Answer:

Raise the discount rate

Explanation:

might be the answer

A 15-year annuity pays $2,220 per month, and payments are made at the beginning of each month. If the interest rate is 10 percent compounded monthly for the first six years, and 6 percent compounded monthly thereafter, what is the present value of the annuity?

Answers

The present value of the annuity is $304,744.04.

What is an annuity?

An annuity is a periodic fixed amount of money that is received periodically.

An annuity is usually a long-term insurance product that provides guaranteed income.

Formula for Present Value of Annuity:

PV = P \times \frac{1 - (1 + r)^{-n}}{r}

PV = present value of an ordinary annuity

P = value of each payment

r = interest rate per period

n = number of periods

Data and Calculations:

N (# of periods) = 72 (12 x 6)

I/Y (Interest per year) = 10%

PMT (Periodic Payment) = $2,220

FV (Future Value) = $0

Results:

PV for 6 years = $119,832.64

Sum of all periodic payments $159,840.00

Total Interest $-40,007.36

PV for 9 years = $184,911.40

Sum of all periodic payments = $239,760 ($2,220 x 108)

Total Interest $54,848.6

Total PV for 15 years = $304,744.04 ($119,832.64 + $184,911.40)

Thus, the present value of the annuity is $304,744.04.

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What is the current yield on a 3 year bond with 10% annual coupons, a par value of 100, and a current price of 107.87?

Answers

The Current Yield will be 27.55%

[tex]Current.Yield = \frac{Annual.Coupon.Payment}{Current.Bond.Price}[/tex]

Given in the question:

Annual coupon rate= 10%=0.1

Par value=100

time= 3 years

current value=107.87

To Find: Current Yield

What is current yield?

The current yield represents the bond's annual return based on a bond's current price and coupon payments. A bond's coupons payment divided by its current price is the formula for calculating current yield.

[tex]Current.Yield = \frac{Coupon.Payment}{Current.Bond.Price}*100[/tex]

Annual coupon payment = Par value * Annual coupon rate*time

⇒Coupon payment = 100*0.1*3

⇒Coupon payment=30

⇒ [tex]Current.Yield = \frac{30}{108.87}*100[/tex]

⇒ Current Yield=27.55%

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You gave some clothes for. dry cleaning. Your suit was spoiled you went to the dry cleaner and made the compliant .

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Answer:

Apart from the question words or the yes/no tags, a question can begin with auxiliary verbs like will, shall, can, etc.The word 'can' is specifically used to request or get permission for something.The word 'can' is joined by the subject and the main verb in the question.Questions beginning with 'can' are answered with a yes or no answer in short or expanded form'. Question: "Can I pay you later?"*

Explanation:

How I cite in this paragraph

Despite several shortcomings GDP is commonly used as an indicator of social welfare. Most of the limitations are due to the fact that in essence the concept is not supposed to measure well-being. As a result, GDP fails to account for non-market transactions, wealth distribution, the effects of externalities, and the types of goods or services that are being produced within the economy. To compensate for these issues, different approaches to measuring welfare have been developed, including the Human Development Index (HDI), the Gross National Happiness Index (GNH), and the Social Progress Index (SPI).Raphael Zeder | Updated Jun 26, 2020 (Published Jan 28, 2015)

Answers

To site this paragraph, write:

Raphael Zeder, (2020).  Limitations of GDP as an Indicator of Welfare. Quickonomics Logo. Updated Jun 26, 2020 (Published Jan 28, 2015).

What is the Limitations of GDP?

There are a lot of limitations of GDP as used in welfare indicator they are:

GDP does not have any measures of welfare.GDP only have market transactions.

Therefore, To site this paragraph, write:

Raphael Zeder, (2020).  Limitations of GDP as an Indicator of Welfare. Quickonomics Logo. Updated Jun 26, 2020 (Published Jan 28, 2015).

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Discuss the relationship between bond prices and interest rates. What impact do changing interest rates have on the price of long-term bonds versus short-term bonds? Your answer must be supported with examples and academic citations.

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Interest rates and bond prices have an adverse correlation. Bond prices grow during periods of low-interest rates and decline during periods of high-interest rates.

What is the interest rate?

The cost of borrowing and the rewards for saving are both indicated by the interest rate. Since there is a premium if the coupon rate is higher than the market rate, the bond's price will be higher. Bond prices will decrease if the coupon rate is lower because there will be a discount.

The price of long-term bonds is more affected by interest rates than the price of short-term bonds. A bond's price varies depending on how long it is.

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if the present value of growing perpetuity is 214,the required rate of return is 10% and growth rate is 3%, what is cash flow in year1(round to nearest whole number) i

Answers

Answer:

15

Explanation:

PV= 214

rate of return 10%

(10+1)^1

11+3= 14

214/14= 15.2...= 15

One stores information is listed in the table below. Sales return $700 rent expenses $1,288 sales discount $950 depreciation expense $600 cost of merchandise sold $7,600 gross sales $20,900 advertising expense $1,650 salary expense $2,900 heat expense $900 Using this information calculate the stores net sale gross profit total operating expenses and net income

Answers

Sales Return -$700                                Cost of merchandise sold- $7600

Rent Expenses- $1288                           Gross sales- $20900

Sales Discount- $950                             Advertising Expense- $1650

Depreciation Expense- $600                 Salary expense- $2900

Heat expense- $900

Net sales occurs only when sales returns, allowances or any discounts is subtracted from company's gross sales.

   A) Net sales = Gross sales- return- sales discount

       Net Sales= $20900- $700- $950 = $19,250

Company's revenue or sales subtract cost of goods sold or direct expenses.

   B) Gross profit=  Net Sales- Cost of merchandise sold

        Gross profit= $19,250- $7600 =$11,650

Expenses incure during normal business operations like rent, insurance etc.

    C) Total operating expenses= Rent+ Depreciation+ Heat+ Advertising+    Salary expense

Total operating expenses= $1288+ $600+ $1650+ $2900+ $900= $7,338

The amount which comes after deducting cost, allowances & taxes.

    D) Net income= Gross profit- total operating expenses

         Net income= $11,650- $7338= $4,312

Hence, net sales is $19250, gross profit is $11650, total operating expenses is $7338, net income is $4312

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MCQ: A firm’s marginal cost function, MC=2Q2+50Q and average total cost function, ATC=Q2+50Q+10000. How many units should they produce to achieve the lowest average cost?

Answers

They must produce 100 units to achieve the lowest average cost.

As we know that to achieve lowest average cost the average cost function and marginal cost function must be equal.

That is , MC=ATC

     ⇒   [tex]2Q^{2} + 50Q = Q^{2} + 50Q + 10000\\[/tex][tex]Q^{2}[/tex]

     ⇒    [tex]Q^{2} = 10000[/tex]

     ⇒    Q = 100

So , 100 units must be produced to achive lowest average cost.

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There are three types of unemployment: frictional, structural, and cyclical. Which one is the worst for workers and what could they do to avoid it? Explain

Answers

Answer:

Over time, the economy experiences many ups and downs. That's what we call cyclical unemployment because it goes in cycles. Cyclical unemployment occurs because of these cycles. When the economy enters a recession, many of the jobs lost are considered cyclical unemployment.

For example, during the Great Depression, the

Answer:

Structural Unemployment is the most common type of unemployment. It is also the worst type of unemployment. Since it is caused by forces other than the business cycle, it is more permanent in nature compared to other types of unemployment.

Explanation:

Economists primarily focus on three types of unemployment: cyclical, frictional, and structural.

14. All are the reasons for market segmentation except: A. buyers are too numerous B. buyers are too varied in their needs and buying practices C. buyers are too widely scattered by demographics D. capability of companies managerially and financially E. none of the above​

Answers

The correct option is E). None of the above as rest of the options are reasons for market segmentation.

What is market segmentation?

Market segmentation refers to process of dividing the broad market into sub groups on the basis of needs, priorities, common interest etc.

The main elements of the market segmentation are demographic, psychographic, behavioral, geographic, and firmographic segmentation.

Market segmentation allows to target the specific audience rather than targeting entire audience.

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Researchers are always interested in the relationships between or among variables. When two variables are
related, a desired policy outcome can be achieved. Table 1 illustrates one of such research outputs.
Table 1: Correlation analysis of X and Y
Pearson
Correlation
Sig. (2-tailed)
N
Y
1.00
450
Study the results carefully and explain them in terms of
presence of relationship [3 marks]
X
0.625***
0.000
450

Answers

Based on the correlational analysis of X and Y that is given, we can infer that there is a linear relationship between X and Y.

What does the correlation analysis show?

The Pearson correlation coefficient shows if there is a linear relationship between given variables.

In the given table, the Pearson Correlation coefficient is not 0 for either variable which means that a linear relationship does in fact exist between the variables.

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Can financial markets help deploy renewables? Please explain in three sentences.

Answers

The global renewable energy market was valued at $881.7billion in 2020, and is projected to reach $1,977.6 billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030

Explain the meaning of balance of trade. ​

Answers

[tex]\huge\purple{Hi!}[/tex]

balance of trade, the difference in value over a period of time between a country’s imports and exports of goods and services, usually expressed in the unit of currency of a particular country or economic union (e.g., dollars for the United States, pounds sterling for the United Kingdom, or euros for the European Union). The balance of trade is part of a larger economic unit, the balance of payments (the sum total of all economic transactions between one country and its trading partners around the world), which includes capital movements (money flowing to a country paying high interest rates of return), loan repayment, expenditures by tourists, freight and insurance charges, and other payments.If the exports of a country exceed its imports, the country is said to have a favourable balance of trade, or a trade surplus. Conversely, if the imports exceed exports, an unfavourable balance of trade, or a trade deficit, exists. According to the economic theory of mercantilism, which prevailed in Europe from the 16th to the 18th century, a favourable balance of trade was a necessary means of financing a country’s purchase of foreign goods and maintaining its export trade. This was to be achieved by establishing colonies that would buy the products of the mother country and would export raw materials (particularly precious metals), which were considered an indispensable source of a country’s wealth and power.

The assumptions of mercantilism were challenged by the classical economic theory of the late 18th century, when philosophers and economists such as Adam Smith argued that free trade is more beneficial than the protectionist tendencies of mercantilism and that a country need not maintain an even exchange or, for that matter, build a surplus in its balance of trade (or in its balance of payments)

Types of conclusion
In a nut shell, when you look

Answers

In a nut shell, when you look belongs to reflective type of conclusion. Hence, the type of conclusion in the phrase above is reflective conclusion. Read below about types of conclusion

What are the types of conclusion?

Majorly, the types of conclusion include: embedded, retrospective, reflective, and projective forms are four main types of conclusions applicable for different academic papers when writing.

Therefore, the correct answer is reflective conclusion. This is so, because, the introductory phrase after the transitional marker signals reflection, 'when you look...' hence, the correct address is reflective conclusion.

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McCallister's just purchased $16,500 worth of inventory. The terms of the sale were 1/15, net 45. What is the implicit interest?

Answers

The implicit interest based on the information given is $165.

How to calculate the interest?

It should be noted that the implicit interest is calculated as:

= Inventory worth × Discount rate

= $16500 × 1%

= $165

Therefore, the implicit interest based on the information given is $165.

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how to calculate moving average method

Answers

Answer

A moving average is a technical indicator that investors and traders use to determine the trend direction of securities.It is calculated by adding up all the data points during a specific period and dividing the sum by the number of time periods

Anticipatory and response-based business models are the two ways used by firms to fulfill customer requirements. However, keeping in mind that there are fundamental differences amongst these two models, concentrate on the definitions and build on such differences to be able to fulfill the requirements of this learning engagement.

Answers

Anticipatory business model is the business type where everything is pre-defined and Response based business model is the one which have reduced the forecasting by joint planning.

What are types of business models?

There are various kinds of business model, which business performs these days, it also depends upon the range of customers the business is dealing with. Some of the hem are-

   Bundling model. ...    Freemium model. ...    Razor blades model. ...    Product to service model. ...    Crowdsourcing model. ...    One-for-one model. ...   Franchise model. ...    Distribution model.

Thus, both the business model concentrate on different things.

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Most of the bending of light in the eye is done at the air-cornea interface. By what angle (cornea) is the beam of light shown in Figure deviated as it passes from air to the cornea if the incident angle is i = 23.6? The refractive index of air is nair = 1.00, the refractive index of the cornea is ncornea = 1.38. Explain why cornea< i? When you dissolve both compounds in water which form of each going to predominate in the solution? Which of the function correctly expresses the exponential model f(x)=6(14)^x with base of e Help please this is stressing me out. Citing evidence using a standard method is part of which step in writing a biographical essay? draftingrevisingoutliningprewriting forty percent of participants in a math contest were boys. fifty percent of the boys revived medals. the number of boys who received the medals was equal to the number of girls who received the medals. what percent of the participants were girls who received medal? Question 3 of 10Which statement best summarizes Lester Maddox's opposition to the CivilRights Act of 1964?A. He did not want African Americans working as employees of thegovernment.B. He thought the federal government should not be able to controlbusiness practices.OC. He thought the law was unnecessary, as state laws were alreadyin place to eliminate segregation.OD. He felt that the federal government could not enforce the laweffectively. Drag each tile to the correct box. Not all tiles will be used.Determine which four events form a clear summary of the passage and place them in the correct order.Robinson Crusoe is an excellentswimmer and navigates roughwavesThe sea deposits Crusoe on land, but hedoes not make it far before another wavecrashes over him.Adrift at sea, Robinson Crusoe realizeshe is almost to the shore.The waves pick up Crusoe two moretimes, but he holds fast to a rockand eventually makes it to shore.Crusoe attempts to guide himself to theshore by shooting his hands above thewater.Pulled underwater once again, Crusoeholds his breath as he waits for thewaves to cease. What are chloroethane's conditions?Please help me Thanks Why is it difficult for historians to arrive at an interpretation of past events that is universally accepted? A 14-year-old girl presents to her primary care provider with a 3-to-4-month history of abdominal pain. Several mornings each week, the patient awakens with epigastric and periumbilical pain, and she does not want to eat breakfast. Eating makes her pain worse, and she does have some nausea. She does not have diarrhea, constipation, or blood in her stool. She has not gained weight since her last visit 6 months ago. On physical examination, she is a healthy-appearing, Tanner Stage IV adolescent whose weight and height are at the 50th percentile for age. Her abdomen is soft but mildly tender throughout. There is no perianal disease, and the stool in her rectum is hemoccult negative. You suspect that she has functional abdominal pain (functional dyspepsia). Which of these tests would be helpful to obtain to exclude other likely causes of her pain In 2002 newly signed blue note artist ______________ released debut album which won 6 grammy awards and has sold more than 20 million copies. The number of DVDs in a random person's home collection is counted for a sample population of 80 people. The mean of the sample is 52 movies, the entire population is known to have a standard deviation of 12 movies. Assuming a 99% confidence level, find the margin of error. A) 59.4671 B) 2.6296 C) 38.6536 D) 3.4547 What is the molar concentration ofa solution that contains5.0 mol HCl in a total volumeof 10.0 L? WILL GIVE BRAINIEST!! Review each detail below from the text. Then, write the number of each detail in the correct column to differentiate between important and unimportant details to include in a summary. When does a driver have to stop for a school bus Once a weakness is identified, what is the next step in behavior change? Mark divided a basket of apples evenly into small bags. The number of bags was equal to the number of apples in each bag. Which could be the total number of apples?A. 25 B. 27 C. 20 D. 18 Which choice is the most efficient first step to solve this set ofequations?y=3x-52x+6y=20 25.A ladder stands against a wall at an angle of 45 to the floor. The foot of the ladder is 3 mfrom the wall. If the ladder slides 1 m down the wall, then the angle between the ladderand the floor is such that: