Hau Lee Furniture, Inc., spends 50% of its sales dollars in the supply chain and finds its current profit of $24 comma 000 inadequate. The bank is insisting on an improved profit picture prior to approval of a loan for some new equipment. Hau would like to improve the profit line to $29 comma 000 so he can obtain the bank's approval for the loan. Current Situation Sales $80 comma 000 Cost of material $40 comma 000 (50%) Production costs $12 comma 000 (15%) Fixed cost $4 comma 000 (5%) Profit $24 comma 000 (30%) a) What percentage improvement is needed in the supply chain strategy for profit to improve to $29 comma 000? What is the cost of material with a $29 comma 000 profit? A decrease of nothing% in material (supply-chain) costs is required to yield a profit of $29 comma 000, for a new material cost of $ nothing. (Enter your response for the percentage decrease to one decimal place and enter your response for the new material cost as a whole number.)'