Fox Corporation has the following information for August: Beginning Work in Process Inventory (70% complete as to conversion) 6,000 units, started 24,000 units, Ending Work in Process Inventory (10% complete as to conversion) 8,500 units. Beginning WIP Inventory Costs: Material $23,400, Conversion $50,607. Current Period Costs: Material $31,500, Conversion $76,956. All material is added at the start of the process and all finished products are transferred out.

Refer to Fox Corporation. Assume that FIFO process costing is used. What is the cost per equivalent unit for conversion? a)$3.44 b) $4.24 c) $5.71 d) $7.03