Based on budgeted sales of 29,000 units next year, the unit product cost of a particular product is $62.60. The company's selling and administrative expenses for this product are budgeted to be $827,200 in total for the year. The company has invested $550,000 in this product and expects a return on investment of 12%. The selling price for this product based on the absorption costing approach would be closest to:
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