Cables Electronics Corporation has developed a new instrument-model XG-75-that has been designed to outperform a competitor's best-selling instrument. Model XG-75 has a useful life of 92,000 hours of service and its operating cost is $3.80 per hour. In contrast, the competitor's product has a useful life of 46,000 hours of service and has operating costs that average $7.40 per hour. The competitor's instrument sells for $122,000. Cables has not yet established a selling price for model XG-75. From a value-based pricing standpoint what is the reference value that Cables should consider when pricing model XG-75? Multiple Choice $122,000 $462,400 $628,000 $453,200