Calculating a Target Cost RU Listening manufactures cell phones and is developing a new model with a feature (targeted at parents of teens) that prevents the phone from dialing an owner-defined list of phone numbers between the hours of midnight and 6:00 a.m. The new phone model has a target price of $340. Management requires a 10% profit on new product revenues. Required: If required, round to the nearest dollar. 1. Calculate the amount of desired profit. 2. Calculate the target cost. $ Feedback Check My Work 1. Desired Profit = Target Price x Profit Percentage 2. Target Cost Target Price - Desired Profit