Majesty Company uses target costing to ensure that its products are profitable. Assume Majesty is planning to introduce a new product with the following estimates: $ 1,600 Estimated market price Annual demand Life cycle Target profit 96,000 units 3 years 23% return on sales Required 1. Compute the target cost of this product. Target Cost 2. Compute the target cost if Majesty wants a 35 percent return on sales arget Cost 3. Compute the target cost if Majesty wants a 7 percent return on sales. Target Cost