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M10-13 (Algo) Calculating Cost-Plus Transfer Price [LO 10-6) Medlock Company has two divisions. Wheel and Chassis, The Wheel Division manufactures a wheel assembly that the Chassis Division uses. The variable cost to produce this assembly $5.00 per unit: full cost is $6.00. The component cells on the open market for $11.00 What will the transfer price be if Medlock uses a pricing rule of variable cont plus 40 percent (Round your answer to 2 decimal places)