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The annual cost and production data for a manufacturing company in Missouri is provided in the table below.
Material and Parts Cost
$1,500,000
Labor Costs
$2,000,000
Overhead Cost
$2,500,000
Annual Production Quantity
500,000 units
The selling price is fixed adding a 40% mark- up on the production cost.
What is the selling price per unit (to the closest penny)?
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