Assume that a company uses the absorption costing approach to cost$-$plus pricing. It is considering the introduction of a new product. To determine a selling price, the company has gathered the following information:

Number of units to be produced and sold each year $15,000$

Unit product cost $ $37\mathrm{.}50$

Estimated annual selling and administrative expenses $ $63,900$

Estimated investment required by the company $ $780,000$

Desired return on investment $($ROI$)12\%$

The selling price that the company would establish using a markup percentage on absorption cost is closest to:

Multiple Choice

$$50\mathrm{.}00.$

$$52\mathrm{.}00.$

$$44\mathrm{.}00.$

$$48\mathrm{.}00.$