+118690 dkingfisher89:- In early 2008, you purchase and remodel a 120 room hotel to handle the increased number of conventions coming to town. by mid-2008, it became apparent that the recession would k**l the demand for conventions. Now, you forecast that you will only be able to sell 20,000 room-nights that cost on average $50 per room night to service. You spent $20 million on the hotel in 2008, and your cost of capital is 10%. The current going price to sell the hotel is $15 million. What is your breakeven price?
