Joseph Production Company is bidding a 10-year contract to provide the customer with 4,000 units of product per year. Their accounting department has estimated a labor and material costs of $30 per unit. An initial capital investment of $1,000,000 is required. The equipment belongs to CCA class 43. Initial net working capital of $50,000 is also needed. The firm must pay factory lease expenses of $50,000 per year. Equipment maintenance expenses are projected to be $30,000 per year. Both lease expenses and maintenance expenses are payable at the end of the year. At the end of the contract, the capital equipment can be sold for $20,000. The firm has a tax rate of 40% and a required return rate of 15%.

Please: Determine the before tax unit price Joseph should bid for this contract. Round the unit price to the nearest dollar. Show all calculations using excel, show formulas and explanation.