Crane Company sells product 1976NLC for $39.00 per unit. The cost of one unit of 1976NLC is $38, and the replacement cost is $37.00. The estimated cost to dispose of a unit is $6.00, and the normal profit is 40% of the selling price. At what amount per unit should product 1976NLC be reported, applying lower-of-cost-or-market? $17.40.

$38.00.

$37.00.

$33.00.