Alley Company is a manufacturer of speakers. Each speaker sells for $400. It costs the company $300 to make the speaker. The company feels that it must reduce its selling price to $360 to compete in the marketplace. The marketing department feels that sales can increase by 20% due to the decrease in selling price. The company current sells 450,000 speakers per year. What should be the target cost rounded to the nearest cent if the target profit is 28% of sales to meet the competitive price of $360?