“Add seventeen percent and that is what the real price should be.”
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You should go into the smartphone business. At that level of markup you won’t be able to keep up with demand. Assuming, of course, that you make a desirable product of quality.
Taking a business course that’s the expected yield after cost of doing business.
It's not possible to "make a desirable product of quality" if all of your product design, development, and production resources must come from only a 17 percent markup, especially in a rapidly moving high tech industry.