XYZ Inc., is preparing a bid to produce industrial equipment. The company has experienced the following costs:
Cumulative	Total Cumulative Costs
Units Produced	Materials	Labor
10	$60,000	$120,000
20	120,000	216,000
40	240,000	388,800

At XYZ, variable overhead is applied on the basis of $1.00 per direct labor dollar. Based on historical costs, XYZ knows that the production of 40 units will incur $100,000 of fixed overhead costs. The bid request is for an additional 40 units; all companies submitting bids are allowed to charge a maximum of 25% above full cost for each order.

The maximum bid price that XYZ could submit for the 40 units is