Sunny Days is coming out with a new sunscreen lotion. The company has estimated that the investment required for this product is $150,000, and it is estimated that they can produce and sell 20,000 bottles of the sunscreen this summer. Other costs associated with the product are as follows:

Variable unit product cost	$6.00 per unit
Total fixed overhead cost	$100,000
Variable selling & administrative expense per unit	$1.20 per unit
Total fixed selling & administrative expense	$23,400

The company uses the absorption costing approach to cost-plus pricing. Based on this information, what markup is required to achieve a desired return on investment (ROI) of 30%?

42%

30%

68%

77%