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 $ 2,100 Annual demand 84,000 units Life cycle 4 years Target profit 21+ return on sales Required: 1. Compute the target cost of this product 2. Compute the target cost if Majesty wants a 36 percent return on sales. 3. Compute the target cost if Majesty wants a 14 percent return on sales