Mustang Wedding Announcements has fixed operating costs per month of $7,000 and variable operating costs of $250 per order. Mustang has an average of 50 orders per month. Mustangs income tax rate is 40%.

Assume that the owner of Mustang has invested her life savings of $500,000 into the company. Also assume that if she had invested this $500,000 in a stock index fund she could have earned an average of 8% per year (after income taxes). Also, the owner of Mustang is spending ALL of her time running the business. If she were to shut down the business and get a job, she could earn $3,500 (after income taxes) each month. -- Assume that the demand for wedding announcements is not sensitive to the price, so the owner is free to set any reasonable selling price.

What selling price must the owner set for each of the 50 monthly orders in order to earn as much from selling wedding announcements as she would if she had just invested her $500,000 in a stock index fund earning 8% per year and were just working a regular job earning $3,500 per month (after income taxes)? Note: Round the selling price to the nearest dollar.