Allen Corporation's vice president in charge of marketing believes that every 12% increase in the selling price of one of the company's products would lead to a 16% decrease in the product's total unit sales. The product's absorption costing unit product cost is $18.00. The variable production cost is $9.00 per unit and the variable selling and administrative cost is $6.80 per unit.
The product's profit-maximizing price according to the formula in the text is closest to: