Video Planet $($VP$)$ sells a big screen TV package consisting of a $60-$inch plasma TV$,$ a universal remote, and on$-$site installation by VP

staff. The installation includes programming the remote to have the TV interface with other parts of the customer's home entertainment

system. VP concludes that the TV$,$ remote, and installation service are separate performance obligations. VP sells the $60-$inch TV

separately for $$2,070,$ sells the remote separately for $$260,$ and offers the entire package for $$2,540.$ VP does not sell the installation

service separately. VP is aware that other similar vendors charge $$310$ for the installation service. VP also estimates that it incurs

approximately $$260$ of compensation and other costs for VP staff to provide the installation service. VP typically charges $30\%$ above

cost on similar sales.

Required:

to $3.$ Estimate the stand$-$alone selling price of the installation service using each of the following approaches.