Allen Corporation's vice president in charge of marketing believes that every 8% increase in the selling price of one of the company's products would lead to a 12% decrease in the product's total unit sales. The product's absorption costing unit product cost is $14.00. The variable production cost is $5.00 per unit and the variable selling and administrative cost is $5.80 per unit. The product's profit-maximizing price according to the formula in the text is closest to: (Do not round intermediate calculations. Round your final answers to 2 decimal places.)