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 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. Question content area bottom

Part 1 A. $336.00 B. $280.00 C. $360.00 D. $350.00