Martin Company is considering the introduction of a new product. To determine a selling price, the company has gathered the following information: 16,000 50 Number of units to be produced and sold each year Unit product cost Projected annual selling and administrative expenses Estimated investment required by the company Desired return on investment (ROI) $ $ 72,000 320,000 20% The company uses the absorption costing approach to cost-plus pricing. Required: 1. Compute the markup required to achieve the desired ROI. (Round your Required ROI answers to the nearest whole percentage (i.e, 0.1234 s 12.34.)) Required ROI Investment Selling and administrative expenses Total production cost Unit product cost per unit Unit sales Total sales Markup percentage % 2. Compute the selling price per unit. (Round your intermediate and final answers to 2 decimal places.) Unit product cost Markup Selling price per unit