8. Sheffield Water is considering introducing a water filtration device for its 20-ounce water bottles...

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Sheffieid Water is considering introducing a water filtration device for its 20 -ounce water bottles. Market research indicates that 1,000,000 units can be sold if the price is no more than $5. If Sheffield Water decides to produce the filters, it will need to invest $2,000,000 in new production equipment Sheffield Water requires a minimum rate of return of 2196 on all investments. Determine the target cost per unit for the filter. (Round answer to 2 decimal ploces, eg. 10.50) Target cost per unit $