Chao Products currently sells small boats for $$360.$ It has costs currently assigned to it of $$280.$ A competitor is

bringing a new small boat to market that will sell for $$320.$ Management believes it must lower the price to $$320$

to compete in the market for small boats. Marketing believes that the new price will cause sales to increase by

$10$ percent, even with a new competitor in the market. Chao's sales are currently $100,000$ per year.

What is Chao's target selling price if costs cannot be reduced and the target profit is changed to cost plus

$20$ percent? Round to the nearest cent.

A$.$ $$336\mathrm{.}00$

B$.$ $$353\mathrm{.}33$

C$.$ $$280\mathrm{.}00$

D$.$ $$350\mathrm{.}00$

E$.$ $$360\mathrm{.}00$