Cutting Edge Company manufactures lawn equipment for retail stores. Ron Ellington, the vice president of marketing, has proposed that the company introduce two new products:a GPS lawn mower and a laser-guided lawn edge. Ellington has requested that the Profit Planning Department develop preliminary selling prices for the two new products for his review. Profit Planning has followed the company's standard policy for developing potential selling prices. It has used all data available for each product. The data accumulated by Profit Planning Cutting Edge plans to use an average of $1, 200,000 in assets to support operations in the current year. The condensed budgeted income statement that follows reflects the planned return on assets of 40 percent ($480,000 -r $1, 200,000) for the entire company for all products. Use the budgeted income statement to calculate a potential selling price for the lawn mower, using return, on .assets. pricing. Round your answer to the nearest cent. Use the budgeted income statement to calculate a potential selling price for the lawn edges, using gross margin pricing. Round your answer to the nearest dollar