1. Time Plc. is a small business that produces watches. The company has total fixed costs of $8,360,000 per month and variable cost per unit is $108. The company has estimated monthly sales demand for calculators, at a range of possible selling prices, as follows:

Selling price ($)	Units sold
160	180,000
192	160,000
224	140,000
256	130,000
288	100,000
304	80,000

Required: Advice Time Plc. on the profit maximizing selling price for the calculator. (70 words)

[Marks: 5]