Exercise 8-3 The cross-functional product development team of Tents Galore, a manufacturer of tents and camping supplies, is analyzing the costs of its newest product, a heavyweight, durable tent designed to withstand high winds and harsh conditions. Because the target market for this product is mountain climbers and artic explorers, the team does not believe the company will sell a great quantity of the tents each year. The team knows that its major competitor sells a similar tent at a price of $700. However, a major selling point of the new tent is its superior insulation feature. The team hopes to sell 500 of the new tents at a price equal to its competitor while maintaining it usual profit of 25 percent. What is the target cost for Tents Galore tent