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The market price for a product has been $50 per unit, but competitive pressures have...

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Accounting

The market price for a product has been $50 per unit, but competitive pressures have reduced the market price to $45. The firm manufactures 10,000 of these products per year at a manufacturing cost of $38 per unit (including $22 fixed cost and $16 variable cost per unit). Other selling and administrative costs for the product are $8 per unit.
The firm ignores competitive prices because it has a differentiated product. It uses life-cycle cost-based pricing with a 10% markup. What is the firms price? (Round your answer to 2 decimal places.)

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