Your company has been approached to bid on a contract to sell $4,850$ voice recognition

$($VR$)$ computer keyboards a year for four years. Due to technological improvements,

beyond that time they will be outdated and no sales will be possible. The equipment

necessary for the production will cost $$3\mathrm{.}2$ million and will be depreciated on a straight$-$

line basis to a zero salvage value. Production will require an investment in net working

capital of $$400,000$ which will be returned at the end of the project, and the equipment

can be sold for $$315,000$ at the end of production. Fixed costs are $$575,000$ per year,

and variable costs are $$76$ per unit. In addition to the contract, you feel your company

can sell $11,600,13,700,18,000,$ and $10,500$ additional units to companies in other

countries over the next four years, respectively, at a price of $$172.$ This price is fixed. The

tax rate is $21$ percent, and the required return is $9$ percent. Additionally, the president of

the company will undertake the project only if it has an NPV of $$100,000.$ What bid price

should you set for the contract? $($Do not round intermediate calculations and round

your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Answer is complete but not entirely correct.