Sheridan's Recording Studio rents studio time to musicians in two hour blocks. Each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mber. Anticipated annual volume is 1,200 sessions. The compary has invested $1,995,840 in the studio and expects a return on investment of 25%. Budgeted costs for the coming year areas follows: Calculate the markup percentage on the total cost per session. Calculate the target price per session. (Round answer to 2 decimal places, eg. 15.25.)