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: Estimated market price $ 1,600 Annual demand Life cycle Target profit 94,000 units 6 years 28% return on sales Required: 1. Compute the target cost of this product. 2. Compute the target cost if Majesty wants a 40 percent return on sales. 3. Compute the target cost if Majesty wants a 6 percent return on sales. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the target cost of this product.