7. The Harper Corporation manufactures and sells T-shirts imprinted with college names and slogans. Last year, the shirts sold for P750 each, and the variable cost to manufacture them was P225 per unit. The company needed to sell 20,000 shirts to break even. The net income last year was P5,040. Harper's expectations for the coming year include the following: I. The sales price of the T-shirts will be P9 ll. Variable cost to manufacture will increase by one-third lll. Fixed costs will increase by 10% IV. The income tax rate of 40% will be unchanged The selling price that would maintain the same contribution margin rate as last year IS P 9.00 P 8. c. P10.00 25 d. P 9.75