A company has $45 per unit in variable costs and $1,200,000 per year in fixed costs. Demand is estimated to be 108,000 units annually.

A company has $45 per unit in variable costs and $1,200,000 per year in fixed costs. Demand is estimated to be 108,000 units annually.

What is the price if a markup of 40% on total cost is used to determine the price?