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VE Raju is in a competitive product market. The expected selling price is $77 per unit, and Raju's target profit is 20% of selling price.

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VE Raju is in a competitive product market. The expected selling price is $77 per unit, and Raju's target profit is 20% of selling price. Using the target cost method, what is the highest Raju's cost per unit can be? (Round your answer to 2 decimal places.) Target cost

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