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 Estimated annual selling and administrative expenses Estimated investment required by the company Desired return on investment (ROI) 36 9,580 $ $ 41, 100 $ 370,000 124 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.) 1. Markup percentage on absorption cost 2 Selling price per unit %