1. 600 points MBI, Inc. had sales of $42 million for fiscal 2016. The company's gross proftratio for that year was 24% Required: a. Calculate the gross pro and cost of goods ord for M o r 2016. Enter your answers in ons roun places. ..500.000 Geoss profil Cost of goods sold 5 $ 1008 milion 3192 million is to be the same as the b. Assume that a new product is developed and that it will cost $457 manufacture Calculate the seng price that must be set for this new product of its gross profit average achieved for products for fiscal 2016. Do not round intermediate calculations. Enter your answer in dollars rounded to 2 decimal places) c. From management viewpont acouts use the estimated seting price as a target in conducting marketing research studies to assess as unimate prospects for success at this price