Joe reports year-end information from 2020 as follows:

Sales (80,000 units)	$480,000
Cost of goods sold	320,000
Gross margin	160,000
Operating expenses	130,000
Operating income	$30,000

Joe is developing the 2021 budget. In 2021 the company would like to increase selling prices by 8%, and as a result expects a decrease in sales volume of 10%. All other operating expenses are expected to remain constant. Assume that COGS is a completely variable cost and that operating expenses are a completely fixed cost.

Should Joe increase the selling price in 2021?