Shimada Products Corporation of Japan plans to introduce a new electronic component to the market at a target selling price of $$15$

per unit. The company is investing $$6,720,000$ to purchase the equipment it needs to produce and sell $504,000$ units per year. Its

required rate of return on all investments is $12\%.$

Required:

Compute the component's target cost per unit.

Note: Round your answer to $2$ decimal places.