Jaakola Corporation makes a product with the following costs: Per Per Year Unit $17.00 $22.00 $ 4.00 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses $504,000 $ 4.90 $319,200 The company uses the absorption costing approach to cost-plus pricing described in the text. The pricing calculations are based on budgeted production and sales of 28,000 units per year. The company has invested $360,000 in this product and expects a return on investment of 15%. The markup on absorption cost would be closest to: 27.1% 0 29.9% 84.3% 15.0%