In order to produce a new product, a firm must lease equipment at a cost of $115,000
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Question:
In order to produce a new product, a firm must lease equipment at a cost of $115,000 per year. The managers feel that they can sell 53,000 units per year at a price of $78. What is the highest variable cost that will allow the firm to at least break even on this project? (Round your answer to 2 decimal places.)
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