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Bollard Company manufactures a product that has a full cost of $700. Its target operating income per unit is $50. To stay competitive, Bouchard management

Bollard Company manufactures a product that has a full cost of $700. Its target operating income per unit is $50. To stay competitive, Bouchard management believes it must cut its price by 15%. What will be its new target price?

a. $587.50

b. $700

c. $637.50

d. $50

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