Liverpool Company uses a process costing system. During the current period, 1,600 units were started and 1,200 units were completed and transferred out. Ending units were 70% complete for materials and 35% complete for conversion costs. Direct materials costs added were $32,500 and conversion costs added were $42,400. There was no beginning WIP inventory and conversion costs are added evenly throughout the process. At the end of the period, the cost per equivalent unit for conversion costs for Liverpool Company would be closest to: $31.64 $37.08 $26.17 $21.96