Aldean Company wants to use absorption cost-plus pricing to set the selling price on a new product. The company plans to invest $200,000 in operating assets to produce and sell 16,000 units. Its required return on investment (ROI) in its operating assets is 18%. The accounting department has provided cost estimates for the new product as shown below: Per Unit Total Direct materials $ 7 Direct labor $ 5 Variable manufacturing overhead $ 2 Fixed manufacturing overhead $ 116,000 Variable selling and administrative expenses $ 1 Fixed selling and administrative expenses $ 50,000 Required: What is the unit product cost for the new product? Note: Round intermediate calculations and final answer to 2 decimal places. What is the markup percentage on absorption cost for the new product? Note: Round intermediate calculations to 2 decimal places. What selling price would the company establish for its new product using a markup percentage on absorption cost? Note: Round intermediate calculations and final answer to 2 decimal places.