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 $380. It costs ECC $275 to make the player. ECC's main competitor is coming to market with a new video player that will sell for a price of $350. ECC feels that it must reduce its price to $350 in order to compete. The sales and marketing department of ECC believes the reduced price will cause sales to increase by 17% ECC currently sells 213,000 video players per year. What is the target cost of target profit is 25% of sales and ECC must meet the competitive price of $350? Multiple Choice O $255.00 2 $262.50 $270.75 O $276.50