enn Oil Corporation has two divisions, Refining and Production. The company's primary product is oil.

Production: Variable costs per barrel of oil $ 9

Fixed costs per barrel of oil $ 6

Refining: Variable costs per barrel of oil $30

Fixed costs per barrel of oil $36

The Refining Division has a capacity of 40,000 barrels/day and usually purchases 25,000 barrels from the Production Division. The remaining 15,000 barrels are purchased externally for $60/barrel. What is the transfer price per barrel from the Production Division to the Refining Division, when the transfer price chosen is 180% of variable costs?