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 committed to production of the new product. Compute the target price of the new product under variable-cost pricing. (Round answer to 2 decimal places, eg. 10.50.) Target price (c) Attempts: 1 of 3u - Your answer is incorrect. Compute the markup percentage under absorption-costing that will allow Sheridan Products its desired ROI. (Round answer to 2 decimal places, eg. 10.50%.) Markuppercentage