The market price for a product has been $66 per unit, but competitive pressures have reduced the market price to $62. The firm manufactures 19,500 of these products per year at a manufacturing cost of $55 per unit (including $34 fixed cost and $21 variable cost per unit). Other selling and administrative costs for the product are $10 per unit.

The firm ignores competitive prices because it has a differentiated product.

It uses full manufacturing costbased pricing with a 38% markup.

What is the firms price?