Magpie Corporation uses the total cost concept of product pricing. Below is cost information for the production and sale of $50,000$ units of its sole product. Magpie desires a profit equal to a $25\%$ rate of return on invested assets of $$700,000.$ Fixed factory overhead cost $-$ $$38,700$; Fixed selling and administrative costs $7,500$; Variable direct materials cost per unit $-4\mathrm{.}60$; Variable direct labor cost per unit $-1\mathrm{.}88$ ; Variable factory overhead cost per unit $-1\mathrm{.}13$; Variable selling and administrative cost per unit $-4\mathrm{.}50.$ The unit selling price for the company's product is: