Information for Nashville Forging is provided below. A representative from Nashville calls you and tells you that they have to increase their selling price because their material costs are skyrocketing (increasing 20%). Based on this information, what is the highest selling price you should be willing to accept (round to the nearest 1/100^th)?

Material	$1.25
Direct Labor	$3.50
Mfg OH	$4.90
Tooling	$1.75
Factory Cost	$11.40
SGA	$2.28
Total Cost	$13.68
Profit	$1.37
Selling Price	$15.05

Group of answer choices

$15.30

$17.27

$15.38

$18.06

$17.82