Required information

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The market price for a product has been $58 per unit, but competitive pressures have reduced the market price to $54. The firm manufactures 14,500 of these products per year at a manufacturing cost of $43 per unit (including $23 fixed cost and $20 variable cost per unit). Other selling and administrative costs for the product are $1 per unit.

The firm ignores competitive prices because it has a differentiated product. It uses full manufacturing costbased pricing with a 35% markup. What is the firms price? (Round your answer to 2 decimal places.)

Firm's price

per unit