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 90,000 units 6 years 27% 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 13 percent return on sales