Sophies Slippers is introducing pink bunny slippers. Sophies must invest $8,000 in new equipment to make the slippers, and it estimates it will sell 10,500 pairs. If Sophies per-pair target cost is $14.80 and the required rate of return on investment is 25%, what is the sales price for each pair of slippers? Round your answer if necessary.

$16.78

$14.85

$14.99

$18.50