The following information relates to Questions 1 and 2 Cyclops Company manufactures kinetic torches. Based on market research, Cyclops decides on a target cost of $3.5 for its "Omega Red" model. They expect to sell 15000 units of Omega Reds in the next month. The target profit margin for Cyclops' products is 60%. The cost reduction objective for Omega Reds is $0.65 Question 1 Calculate the target selling price for one Omega Red torch. Round to 2 dec places if required. $ 0 Your last answer was interpreted as follows: 0 Question 2 Calculate the current production cost for one Omega Red torch. Round to 2 dec places if required. $ 0