2) Jaffer Inc. has invested $1,000,000 in a plant to make gas pumps for service stations. The average long-run income desired from the plant is $150,000 annually. The annual cost base for each pump is $1,000. What should be the prospective selling price for each pump if the company uses a target return on investment as the markup base? 3) if you were the manager of a oil refinery, what type of costing would you use to determine the selling price of the oil? Justify using the class lecture the reasons for such a decision.