You are part of a group of owners who wish to invest money into a new tour business. Use the information below to calculate the required information asked of you for this question, using the Bottom-Up Pricing method.

*Note*

Only find the answer to the single question being asked of you in this question; do not complete all the Bottom-Up Pricing steps. Previous steps information is provided below to assist you.

Calculate the average selling price required to meet the owners desired rate of return. Round to the nearest dollar.

I need problem-solving process

Revenue	$408718
New Equipment Value	$158040
Loan Amount	$106796
Interest Rate %	12%
Food Cost %	23%
Variable Wage %	21%
Other Variable Expenses %	13%
Maximum # of Tour Guests per Tour	41
Average Occupancy % of Tours	86%
# of Tours per month	23