River Valley Orchards is reevaluating its pricing strategy for fresh-squeezed lemon juice in half-gallon containers. Variable costs per half-gallon container are $1.90. Management has determined that the price per half-gallon should be between $2.80 and $3.30. Considering only prices in increments of 5 cents, determine the price that maximizes contribution margin. Prepare the owner's equity statement reflecting this pricing decision.

Price per Half Gallon	Estimated Demand (Half-Gallon Units)
$2.80	88,000
$2.85	85,000
$2.90	82,000
$2.95	80,000
$3.00	77,500
$3.05	75,000
$3.10	72,500
$3.15	70,000
$3.20	67,500
$3.25	65,000
$3.30	62,500