Clear Water is considering introducing a water filtration device for its 20-ounce water bottles. Market research indicates that 1,021,400 units can be sold if the price is no more than $4. If Clear Water decides to produce the filters, it will need to invest $1,957,700 in new production equipment. Clear Water requires a minimum rate of return of 20% on all investments.

Determine the target cost per unit for the filter. (Round answer to 2 decimal places, e.g. 10.50.) $