The following information is available for the 22,000 units of X Company's one product sold in 2018: Selling price Variable costs per unit Total fixed costs $57.30 $12.70 $418,000 Management believes it can increase the selling price in 2019 with no effect on unit sales. Variable costs per unit and fixed costs will remain the same. How much would the selling price have to be increased in order for X Company's 2019 profit to be $704,000 [rounded to two decimal places]