Micha Smith is a young attorney who has decided to leave her current employer and set up...

Micha Smith is a young attorney who has decided to leave her current employer and set up her own law practice. She has prepared the following monthly cost estimates:

Micha would like to earn $3,300 a month and feels that she will be able to bill 150 hours of her time per month to clients.

Required:

a. Assuming that Micha is correct in her estimates, what fee per hour should Micha charge her clients?

b. At the fee calculated in (a), what would Micha earn in a month in which her time charged to clients was only 100 hours? Assume that all costs are fixed.