Mountaintop golf course is planning for the coming season. Investors would like to earn a 12% return on the company's

$47,000,000

of assets. The company primarily incurs fixed costs to groom the greens and fairways. Fixed costs are projected to be

$23,000,000

for the golfing season. About

410,000

golfers are expected each year. Variable costs are about

$20

per golfer. Mountaintop golf course has a favorable reputation in the area and therefore, has some control over the price of a round of golf. Using a

costplus

approach, what price should Mountaintop charge for a round of golf?

A.

$128.39

B.

$20

C.

$89.85

D.

$76.1