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Summit Products, Incorporated is interested in producing and selling an improved widget. Market research indicates that customers would be willing to pay $72 for such

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Summit Products, Incorporated is interested in producing and selling an improved widget. Market research indicates that customers would be willing to pay $72 for such a widget and that 32,000 units could be sold each year at this price. The current cost to produce the widget is estimated to be $50. If Summit Products requires a 15% return on sales to undertake production, what is the target cost for the new widget

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