Sparkle Corporation would like to decide the selling price on a new product called M600, using the absorption costing approach to cost-plus pricing. The organization has estimated the following information for M600: Management plans to produce and sell 40,000 units of M600 per year. The new product would require an investment of $30,000,000 and has a required return on investment of 10%. Required:(Show all your calculations) a. Determine the markup percentage on absorption cost for product M600. b. Determine the selling price for M600 using the absorption costing approach. c. Assume that Sparkle Corporation can produce and sell only 30,000 units, how much net income (or net loss) Sparkle Corporation is going to report