wr Browser+Webcam V Question 10 (4 points) Listen Use the information below to answer the following questions Chao Products currently sells small boats for $360. It has costs currently assigned to it of $280. A competitor is bringing a new small boat to market that will sell for $320 Management believes it must lower the price to $320 to compete in the market for small boats. Marketing believes that the new price will cause sales to increase by 10 percent, even with a new competitor in the market. Chao's sales are currently 100,000 per year 11 12 What is Chao's target selling price if costs cannot be reduced and the target profit is changed to cost plus 20 percent? age 5: 13 $360.00 $350.00 $336.00 $280.00 $353.33 11/2 points) Saved