Lockeed Marretta Company is exploring the possibility of introducing a new product. Lockeed has developed the foll owing data order p determine a selling price for that new product Number of units to be produced and sold each year 16,000 Projected annual selling and administrative expenses Estimated investment required by the company Desired retum on investment (ROI) 60,000 500.000 19% The absorption costing approach to cost-plus pricing is used at Lockeed Marretta Company for such decisions. Required: . Compute the markup required to achieve the desired ROI. (Round your Required ROI answers to the nearest whole percentage (i.e, 0.1234 should be entered as 12). Round your "Markup Percentage" answers to decimal places (i.e., 0.1234 should be entered as 12.34.)) Required ROI Investment Selling and administrative expenses Total production cost Unit product cost per unit Unit sales Total sales Markup percentage . Compute the selling price per unit. (Round your intermediate and final answers to 2 decimal places.) Unit product cost Markup Selling price per unit