Exercise 6A-4 (Algo) Target Costing [LO6-11] Shimada Products Corporation of Japan is anxious to enter the electronic calculator market. Management beleves that In order to be competitive In world markets, the price of the electronic calculator that the company is developing cannot exceed $15. Shimada's required rate of return is 12 % on all Investments. An Investment of $12,760,000 would be required to purchase the equipment needed to produce the 348,000 calculators that management beleves can be sold each year at the $15 price. Required: Compute the target cost of one calculator. (Round your answer to 2 declmal places.) Target cost per unit