Sweet Dreams Candy Company is implementing a target costing approach for its latest new product, the Big Glob candy bar. The following information relates to the Big Glob project: $0.37 500.000 $750,000 Target cost per candy bar Expected annual sales (in units) Required investment in additional assets Desired return on investment Price elasticity of demand Variable selling cost per unit Variable manufacturing cost per unit Fixed manufacturing cost per unit Fixed selling costs per period -1.5 $0.1 $0.21 $0.07 $257.500 If price elasticity of demand is 1.5 what is the profit maximizing price of a candy bar? (Round to two decimal places)