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Cinrich, a pet product superstore, is considering pricing a new Cinrich-labeled dog food. The company will buy the premium dog food from a company in Indiana that packs the product with a Cinrich label. Cinrich pays $9 for a 50-pound bag delivered to its store. The company also sells Royal Dog Food (under the Royal Dog Food label), which it purchases for $12 per 50-pound bag and sells for $20.99. The company currently sells 27,000 bags of Royal Dog Food per month, but that is expected to change when the Cinrich brand is introduced. The company will continue to price the Royal Dog Food brand at $20.99. The quantity of Cinrich and the quantity of Royal Dog Food that will be sold at various prices for Royal are estimated as:

Price Cinrich					Quantity Cinrich			Quantity Royal
	$9.99				37,400			12,400
	$10.99				36,400			12,700
	$11.99				36,400			12,900
	$12.99				35,400			13,400
	$13.99				32,200			14,400
	$14.99				27,000			15,400
	$15.99				16,600			16,400
	$16.99				11,400			20,400
	$17.99				6,200			22,400

For example, if Cinrich is priced at $9.99, the company will sell 37,400 bags of Cinrich and 12,400 bags of Royal at $20.99. If the company prices Cinrich at $17.99, it will sell 6,200 bags of Cinrich and 22,400 bags of Royal at $20.99. This is 4,600 fewer bags of Royal than is currently being sold.

Calculate the profit-maximizing price for the Cinrich brand, taking into account the effect of the sales of Cinrich on sales of the Royal Dog Food brand. (Round Profit-maximizing price to 2 decimal places, e.g. 15.25 and other answers to 0 decimal places, e.g. 5,245. Enter loss using either a negative sign preceding the number e.g. -15.25 or parentheses e.g. (15.25).)

Price of Cinrich		Price of Royal		Profit/(Loss)
					$9.99		$20.99		$enter a dollar amount rounded to 0 decimal places
10.99		20.99		enter a dollar amount rounded to 0 decimal places
11.99		20.99		enter a dollar amount rounded to 0 decimal places
12.99		20.99		enter a dollar amount rounded to 0 decimal places
13.99		20.99		enter a dollar amount rounded to 0 decimal places
14.99		20.99		enter a dollar amount rounded to 0 decimal places
15.99		20.99		enter a dollar amount rounded to 0 decimal places
16.99		20.99		enter a dollar amount rounded to 0 decimal places
17.99		20.99		enter a dollar amount rounded to 0 decimal places
N/A		20.99		enter a dollar amount rounded to 0 decimal places

Profit-maximizing price

$enter the profit maximizing price amount in dollars

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