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Cheng builds replica miniature cabinets. His costs for each cabinet are $31 each. A consultant tells Cheng that the average margin in his industry is

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Cheng builds replica miniature cabinets. His costs for each cabinet are $31 each. A consultant tells Cheng that the average margin in his industry is 51%. Cheng currently sells the cabinets for $41, but thinks he should consider using the industry average margin as his target goal. If Cheng decides to sell to a retailer who earns a retail margin of 20%, what would be the final price to consumers if cheng changes his price to the retailer to reflect his target margin

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