Edward Co is planning a new product and adopts a target costing approach. Market research information suggests that at a selling price of $21.00 /unit Edward Co will sell 10000 units over the product's life-cycle. The company seeks to make a mark-up of 40% on top of the product's lifetime cost. It is estimated that the lifetime costs of the product will be as follows: Design and development costs: $50000 Manufacturing costs $10 /unit End of life costs: $20000 REQUIRED (a) Adopting a target costing approach, is the product worth making? Provide calculations to support your answer. (b) Assuming a cost gap was identified in the process, outline possible steps Edward Co could take to reduce this gap