Shannon's has developed a super-premium craft beer to be marketed as Shannon's Irish Stout.The cost of production (brewing, canning, etc.) is about $4.00 per six pack.If Shannon's needs a 10% margin, the distributor needs 40% and the retailer needs 53%, what will be the likely selling price suggested by Shannon's to consumers?Assume all margins are expressed asmarkups based on selling price. Compute your answer to the nearest penny.