Shimada Products Corporation of Japan plans to introduce a new electronic component to the market at a target selling price of $15 per unit. The company is investing $5 , 280 , 000 to purchase the equipment it needs to produce and sell 528,000 units per year. Its required rate of return on all investments is 12% . Required: Compute the component's target cost per unit. (Round your answer to 2 decimal places.)