Kirgan, Incorporated, manufactures a product with the following costs: Per Unit Per Year Direct materials $ 25.70 Direct labor $ 14.70 Variable manufacturing overhead $ 2.90 Fixed manufacturing overhead $ 1,370,600 Variable selling and administrative expenses $ 2.80 Fixed selling and administrative expenses $ 1,343,200 The company uses the absorption costing approach to cost-plus pricing. The pricing calculations are based on budgeted production and sales of 89,000 units per year. The company has invested $300,000 in this product and expects a return on investment of 15%. The selling price based on the absorption costing approach would be closest to: (Do not round intermediate calculations.) $60.30 $77.10 $82.40 $51.06