McKlin Ltd is introducing a new product. It has established that the target selling price of the product is $$120.$ The company requires a target profit equal to a mark$-$up of $33\mathrm{.}3\%$ on its cost of production. Calculate the target cost of the product as a percentage of the target price for the product.

Select one:

a$.50\%$

b$.75\%$

c$.60\%$

d$.66\mathrm{.}7\%$