Sheridan Products desires to set a target price for its newest product. Information for a budgeted volume of 8,000 units is shown below. Sheridan Products uses cost plus pricing and management wants a 25% ROI on the new product. Assets of $1,400,000 are committ to production of the new product. Compute the markup percentage under absorption-costing that will allow Sheridan Products its desired ROI. (Round answer to 2 decimal places, eg. 10.50\%, Markup percentage % eTextbook and Media Attempts: 2 of 3 used (d) x Your answer is incorrect. Compute the target price of the new product under absorption-costing. (Round answer to 2 decimol places, eg. 10.50.) Target price