Boback Industries Inc. has developed a new drill press, model DP-18, that is designed to offer superior performance to a comparable press sold by Boback's main competitor. The competing press sells for $88,000 and needs to be replaced after 29,600 hours of use. It also requires $59,200 of preventive maintenance during its useful life. Model DP-18s performance capabilities are similar to the competing product with two important exceptionsit needs to be replaced only after 118,400 hours of use and it requires $148,000 of preventive maintenance during its useful life.

From a value-based pricing standpoint what range of possible prices should Schimpf consider when setting a price for model DP-18?