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Mathstat Company is contemplating introducing a new type of calculator to complement its existing line of scientific calculators. The target price of the calculator is

Mathstat Company is contemplating introducing a new type of calculator to complement its existing line of scientific calculators. The target price of the calculator is $100; annual sales volume of the new calculator is expected to be 200,000 units. Mathstat has a 7% return-on-sales target.

Requirement: Compute the unit target cost per calculator.

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