Martin Company uses the absorption costing approach to cost-plus pricing. It is considering the introduction of a new product. To determine a selling price, the company has gathered the following information:

Number of units to be produced and sold each year		10,500
Unit product cost	$	32
Estimated annual selling and administrative expenses	$	34,800
Estimated investment required by the company	$	690,000
Desired return on investment (ROI)		12	%

Required:

1. Compute the markup percentage on absorption cost required to achieve the desired ROI.

2. Compute the selling price per unit. (Do not round intermediate calculations. Round your answer to 2 decimal places.)