Question
Barschoff, Inc. is interested in entering into a relationship with a new inventor. The inventor is offering a product that the company believes could be
Barschoff, Inc. is interested in entering into a relationship with a new inventor. The inventor is offering a product that the company believes could be profitable . The inventor would like $0.38 for each unit sold, plus a flat fee of $41871 each year. The cost to produce a single unit is $1.18. The company needs to make a minimum of $125812 per year from the new product to make it a financially viable investment. The marketing department believes the company can sell at least 69672 of the product this year. What is the minimum price the company must charge for the product to meet its financial target of $125812?
Round your answer to 2 decimal points.
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