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J - Time Inc. is planning to launch a new brand of watches for kids. Similar watches are available in the market for $50. In

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J - Time Inc. is planning to launch a new brand of watches for kids. Similar watches are available in the market for $50. In order to penetrate the market, the company plans to use target pricing and desires a 20% net profit markup on total cost. Calculate the target cost. A) $30.75 B) $60.00 C) $40.20 D) $41.67

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