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	15,500
Unit product cost	$ 14
Estimated annual selling and administrative expenses	$ 23,400
Estimated investment required by the company	$ 200,000
Desired return on investment (ROI)	10%

Required:

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

Compute the selling price per unit.