the management team is worried about the short-term financial position of the new company. given the strain on available cash, the president has expressed a desire to keep marketing expenses over the next few months to a maximum of $353,000. discussions with the marketing department indicate that telephone and mailing costs are the only category, in the short run, that can reasonably bear the planned-for reduction in marketing costs. the budget you have prepared includes an assumed 9% increase in telephone and mailing costs. what must this percentage change (positive or negative) be in order to achieve targeted monthly marketing costs? (hint: the goal seek function in excel can be used to calculate the percentage changes, which can be found under data, then what-if analysis.) (negative amounts should be indicated by a minus sign. round percentage answers to 2 decimal places. i.e. 0.123 should be considered as 12.30%)
