(Appendix 12A ) Lacy Corporation uses the absorption costing approach to cost-plus pricing to set prices for its products. Based on budgeted sales of 88,000 units next year, the unit produc cost of a particular product is $81.60. The company's selling, general, and administrative expenses for this product are budgeted to be $1,200,000 in total for the year. The company has invested $360,000 in this product and expects a return on investment of 16%. The mark-up on absorption cost for this product would be closest to which of the following? (Round your percentage answer to one decimal place). Multiple Choice 12.0% 17.8% 17.5% 29.8%