XYZ Inc., is preparing a bid to produce industrial equipment. The company has experienced the following costs: 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