Kai sells a small magazine full of celebrity gossip to college students for $2.31 per copy. Hiring the printing press for one day, the only fixed cost, is $370 per issue. The variable cost of printing each issue is $0.90 per copy. The printer tells Kai the cost of hiring the press is to increase by $118 per day.

What price increase would be required to cover the increase in cost of hiring the press if unit volume (copies per issue) remain the same and Kai maintains the same profit goal?