Martin Enterprises needs someone to supply it with $142,000$ cartons of machine screws per year to support its manufacturing needs

over the next five years, and you've decided to bid on the contract. It will cost you $$1,820,000$ to install the equipment necessary to

start production; you'll depreciate this cost straight$-$line to zero over the project's life. You estimate that, in five years, this equipment

can be salvaged for $$152,000.$ Your fixed production costs will be $$267,000$ per year, and your variable production costs should be

$$8\mathrm{.}70$ per carton. You also need an initial investment in net working capital of $$132,000.$ If your tax rate is $22$ percent and you require a

return of $12$ percent on your investment, what bid price per carton should you submit?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Bid price