Assume a company is considering adding a new product. The expected cost and revenue data for this product are as follows:

Annual sales		5,000	units
Unit selling price	$	60
Unit variable costs:
Production	$	30.80
Selling	$	6
Incremental fixed costs per year:
Production	$	35,000
Selling	$	45,000

If the company adds this new product, it expects the contribution margin of other product lines to drop by $18,500 per year. What is the lowest price the company could charge and still break-even on the new product?