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 Annual demand Life cycle Target profit 3,000 83,000 units 5 years 26% return on sales Required: 1. Compute the target cost of this product. 2. Compute the target cost if Majesty wants a 39 percent return on sales. 3. Compute the target cost if Majesty wants a 8 percent return on sales. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the target cost of this product. Target Cost Required 1 Required 2 Required 3 Compute the target cost if Majesty wants a 39 percent return on sales. Target Cost Required 1 Required 2 Required 3 Compute the target cost if Majesty wants a 8 percent return on sales. Target Cost