For the year, the figures below have been given. Sales: $\$400000$ Variable costs: $\$240000$ Total contribution: $\$160000$ Fixed administrative expenses: $\$90000$ Fixed selling expenses: $\$50000$ Profit for the year: $\$20000$ The company intends to raise the selling price by $10\%$. By how much will profit for the year rise?
- A$10\%$
- B$55\%$
- C$80\%$
- D$200\%$