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Creative Watches, Inc. is planning to launch a new brand of watches for kids. Similar watches are available in the market for $50. In order

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Creative Watches, Inc. is planning to launch a new brand of watches for kids. Similar watches are available in the market for $50. In order to penetrate the market, the company plans to use target pricing and desires a 26% net profit markup on total cost. Calculate the target cost. (Round your answer to the nearest cent.)

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