Required information Problem 15-40 Target Costing (LO 15-3, 15-5, 15-6, 15-8) [The following information applies to the questions displayed below.] MPE, Inc. will soon enter a very competitive marketplace in which it will have limited influence over the prices that are charged. Management and consultants are currently working to fine-tune the company's sole service, which hopefully will generate a 11 percent first-year return (profit) on the firm's $17,900,000 asset investment. Although the normal return in MPE's industry is 13 percent, executives are willing to accept the lower figure because of various start-up inefficiencies. The following information is available for first-year operations: Hours of service to be provided: 25,000 Anticipated variable cost per service hour: $21.40 Anticipated fixed cost: $1,980,000 per year Problem 15-40 Part 3 3. Calculate the revenue per hour that MPE must generate in the first year to achieve a(n) 11 percent return. (Round your answer to 2 decimal places.) Revenue per hour