Sonora, Incorporated is launching a new product that it estimates will sell for $110 per unit. Annual demand is estimated to be 104,000 units. Sonora estimates that using its current manufacturing technology, it can manufacture the units for $40 per unit, but if it purchases a new machine, the units can be manufactured for $39 per unit. Sonora has a target profit of 20% return on sales. Under target costing, what is the target cost for the new product?