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Assume that the unit cost of making one doorstop is $1.32. For every unit sole, the firm wants 20% to represent profit. Applying the standard

Assume that the unit cost of making one doorstop is $1.32. For every unit sole, the firm wants 20% to represent profit. Applying the standard mark-up approach, what should the selling price be?

a. $1.65

b. $4.00

c. $5.23

d. $6.60

e. $6.75

Please show your work - Thanks!

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