Electronic Component Company (ECC) is a producer of high-end video and music equipment. ECC currently sells its top of the line "ECC" video player for a price of \$360. It costs ECC $265 to make the player. ECC's main competitor is coming to market with a new video player that will sell for a price of $330. ECC feels that it must reduce its price to $330 in order to compete. The sales and marketing department of ECC believes the reduced price will cause sales to increase by 20%. ECC currently sells 211,000 video players per year. Irrespective of the competitor's price, what is EEC's required selling price if the target profit is 26% of sales and current costs cannot be reduced? $370.61. $265.00. $377.11. $358.11. $386.61