The management of Musselman Corporation would like to set the selling price on a new product using the absorption costing approach to cost-plus pricing. The company's accounting department has supplied the following estimates for the new product: 
Management plans to produce and sell 9,000 units of the new product annually. The new product would require an investment of $1,305,000 and has a required return on investment of 10%.
The markup percentage on absorption cost is closest to:
Definitions:
Integral Role
A crucial function or part played by a component within a system or process.
Communication Vehicle
A medium or channel through which information, messages, or data are transmitted from a sender to a receiver.
Exert Leverage
The act of using one's advantage or influence to affect or sway outcomes in a desired way.
Particular Negotiation
A negotiation that is specific to a certain context, situation, or set of circumstances.
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