magine that the company's product final retail price is $500, which most insurance covers (i.e., the insurance company is paying $500. The company sells its products to distributors for less than the retail price. The distributor requires a 40% gross margin, and the company itself wants to achieve at least a 30% gross margin (i.e., this is the margin that the company gets when they sell their product to the distributor). To achieve a $500 retail price, 40% gross margin for the distributor, and 30% gross margin for the company that designs the product, what is the maximum COGS they would need to aim for? (up to 15 points: up to 5 points for the correct answer, up to 10 points for showing correct process)

Ive posted this question before and have not recieved a deep worded answer. I need a clear answer on each step. Don't skip any mathematical steps and explain.