U Company has produced a product that had variable material, labor, and overhead costs of $12 per unit as well as fixed overhead costs of $3 per unit for a total manufactured cost of $15 per unit. Because this is a new product that does not have a known market value, U Company decides to use cost-plus pricing. The normal markup in the industry is 30% of full manufacturing cost. That means U Company should set the initial selling price per unit at:

Group of answer choices

$19.50

$21.42

$15.60

$23.40