A firm that sellse-books - books in digital form downloadable from the Internet- sells alle-books relating todo-it-yourself topics(home plumbing,gardening, and soon) at the same price. Atpresent, the company can earn a maximum annual profit of $45,000 when it sells 25,000 copies within ayear's time. The firm incurs a 40-cent expense each time a consumer downloads acopy, but the company must spend $100,000 per year developing new editions of thee-books. The company has determined that it would earn zero economic profits if price were equal to average totalcost, and in this case it could sell 40,000 copies. Under marginal costpricing, it could sell 120,000 copies.

At theprofit-maximizing quantity, to the nearestcent, what is the average total cost of producinge-books? $