Problem 3-Pricing I: (40 points) Smith Cheese Company introducted a new product, the Perfect-Slice Cheese Knife. Despite its advanced design, it falls short of the corporate profit model of 30% gross profit of the selling price. Before all the facts were know, the price was set at $10. The cost at launch was $12. As the Management Accountant on this project, you have been asked to calculate the following: Required: a. What is the Target Cost the company should achieve given the market price of $10. b. As an alternative, with a cost of $12, at what price should Perfect-Slice be sold to achieve corporate profit model