Question: #2 Please give the answer in the format provided. Eastern Auto Supply, Inc., produces and distributes auto supplies. The company is anxious to enter the

#2 Please give the answer in the format provided.

#2 Please give the answer in the format provided. Eastern Auto Supply,

Eastern Auto Supply, Inc., produces and distributes auto supplies. The company is anxious to enter the rapidly growing market for long-life batteries that is based on lithium technology. Management believes the to be fully competitive, the price of the new battery that the company is developing cannot exceed $71. At this price, management is confident that the company can sell 41,000 batteries per year. The batteries would require an investment of $2,900,000, and the desired ROI is 20%. Required Compute the target cost of one battery. {Do not round intermediate calculations.)

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