Creative Chronometer, Inc. is planning to launch a new brand of watches for kids. Similar watches are available in the market for

$58.

In order to penetrate the market, the company plans to use target pricing and desires a

24%

net profit markup on total cost. Calculate the target cost. (Round your answer to the nearest cent.)

A.

$13.92

B.

$44.08

C.

$71.92

D.

$46.77