Marvel Company estimates that the following costs and activity would be associated with the manufacture and sale of product Y: Number of units sold annually 23,000 Required investment $430,000 Unit product cost $22 Selling and administrative expenses $109,060 If the company uses the absorption costing approach to cost-plus pricing described in the text and desires a 17% rate of return on investment (ROI), the required markup on absorption cost for product Y would be closest to:
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