A new product is expected to sell for $12. The company would manufacture up to 22,000 units at a variable cost of $5 per unit. Fixed costs would be $150,000. Variable selling and administration expenses would amount to $2.50. Determine the contribution margin per unit and contribution margin rate. O Per unit CM $6.50; CM rate = .415 O Per unit CM $5.50; CM rate = 395 O Per unit CM $7.50; CM rate = 435 O Per unit CM $8.50; CM rate = .455 O Per unit CM $4.50; CM rate = 375