Gill Corporation needs to set a target price for its newly designed product M14-M16. The following data relate to this new product. Per Unit Total Direct materials $20 Direct labor $42 Variable manufacturing overhead $10 Fixed manufacturing overhead $1,440,000 Variable selling and administrative expenses $5 Fixed selling and administrative expenses $1,040,000 These costs are based on a budgeted volume of 80,000 units produced and sold each year. Gill uses cost-plus pricing methods to set its target selling price. The markup on total unit cost is 30%. 1. Compute the desired ROI per unit for M14-M16. (Round answer to 2 decimal places, e.g. 10.50.) 2. Compute the target selling price for M14-M16. (Round answer to 2 decimal places, e.g. 10.50. Use the rounded amounts from the previous questions when calculating the answer for this question.)