Use the information below to answer the following question(s). of Chao Products currently sells small boats for $360. It has costs currently assigned to it of $280. A competitor is bringing a new small boat to market that will sell for $320. Management believes it must lower the price to $320 to compete in the market for small boats. Marketing believes that the new price will cause sales to increase by 10 percent, even with a new competitor in the market. Chao's sales are currently 100,000 per year. tion What is Chao's target cost if the company wants to maintain its same income level, and marketing is correct? O a $270.00 O b. $236.27 Oc $247.27 O d. $280.00 O e. $252.00