Products profit-maximizing price according to formula

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Allen Corporation's vice president in charge of marketing believes that every 12% increase in the selling price of one of the company's products would lead to a 16% decrease in the product's total unit sales. The product's absorption costing unit product cost is $18.00. The variable production cost is $9.00 per unit and the variable selling and administrative cost is $6.80 per unit.

The product's profit-maximizing price according to the formula in the text is closest to:

Reference no: EM13787729

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