The chief engineer at Tech Deals has proposed production of a high-tech portable electronic storage device to be sold at a 30 percent markup above its full cost. Management estimates that the fixed costs per year will be $160,000. The quantity demanded is 40,000 units. How much is the price with a 30 percent markup?
a) $19.60
b) $20.80
c) $20.00
d) More information is needed to answer.