Sheridan Company wants to produce and sell a new flavored water. In order to penetrate the market, the product will have to sell at $4.00 per 12 oz. bottle. The following data has been collected: Projected annual sales 25000 bottles Projected selling and administrative costs $7000 Desired profit $69000 The target cost per bottle is O $0.28. O $0.96. $1.76. $1.24