3. The annual revenue at Sunshine Restaurant in 2019 was $1,500,000. The fixed costs were S182,000 and the variable costs were $858,000. COVID-19 caused a substantial reduction in revenue in 2020 and...

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Extracted text: 3. The annual revenue at Sunshine Restaurant in 2019 was $1,500,000. The fixed costs were S182,000 and the variable costs were $858,000. COVID-19 caused a substantial reduction in revenue in 2020 and for 2021, the owner re-forecasted revenues down to $1,100,000. What should the fixed costs be under the new budget? (Up to 50 words to answer)