Joeston Corporation makes a product with the following costs:

	Per Unit				Per Year
Direct materials	$	16.10
Direct labor	$	14.80
Variable manufacturing overhead	$	4.40
Fixed manufacturing overhead					$	259,200
Variable selling and administrative expenses	$	3.70
Fixed selling and administrative expenses					$	169,600

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 16,000 units per year. The company has invested $684,000 in this product and expects a return on investment of 25%. The markup on absorption cost would be closest to: