Shown below is a segmented income statement for Hickory Company's three wooden flooring product lines: Strip Plank Parquet TotalSales revenue $400,000 $200,000 $300,000 $900,000Less: Variable expenses 225,000 120,000 250,000 595,000Contribution margin $175,000 $80,000 $50,000 $305,000Less direct fixed expenses: Machine rent (5,000) (20,000) (50,000) (75,000)Supervision (15,000) (10,000) (20,000) (45,000)Depreciation (35,000) (10,000) (25,000) (70,000)Segment margin $120,000 $40,000 $(45,000) $115,000Hickory's management is deciding whether to keep or drop the parquet product line. Hickory's parquet flooring product line has a contribution margin of $50,000 (sales of $300,000 less total variable costs of $250,000). All variable costs are relevant. Relevant fixed costs associated with this line include 80% of parquet's machine rent and all of parquet's supervision salaries. In addition, assume that dropping the parquet product line would reduce sales of the strip line by 10% and sales of the plank line by 5%. All other information remains the same. Required:a. List the alternatives being considered with respect to the parquet flooring line. Keep the parquet flooring line or drop itb. Which alternative is more cost-effective? Drop the parquet flooring line By how much?