River Bend Farms is reevaluating the pricing of its fresh-squeezed grape juice in half-gallon containers. Variable costs per container are $1.60. Based on market study, management has set a price range of $2.60 to $3.10. Identify the price that maximizes contribution margin and prepare the owner's equity statement.

Price per Half Gallon	Estimated Demand (Half-Gallon Units)
$2.60	99,000
$2.65	96,000
$2.70	93,000
$2.75	90,000
$2.80	87,000
$2.85	84,000
$2.90	81,000
$2.95	78,000
$3.00	75,000
$3.05	72,000
$3.10	69,000