Reference information: Product X is a consumer product with a retail price of $9.95. Retailer margins on the product are 40% and wholesalers margins are 8% (based on the selling price). Total retail size of the market in which Product X competes is $300MM (MM stands for millions), and Product Xs market share (in retail dollars) is 17.3%. Manufacturing fixed costs of Product X are $1,400,000 and the variable costs are $0.86 per unit. Product X spends $2,000,000 a year on advertising and has miscellaneous variable costs (shipping and handling) of $0.04 per unit. It pays its salespeople completely on commission at 12% of the manufacturers selling price. Lastly, Xs Product Manager has a salary of $90,000 a year.

1. What is the unit contribution for Product X expressed as a percentage (%)?