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Margin and markup sound alike and mean different things, which is how good products end up underpriced. Work a price back from the margin you want, or check the margin and markup a price actually gives you.
To keep 40.0% of each sale as profit, price it at $25.00. That is a 66.7% markup on your $15.00 cost, and $10.00 of profit per unit.
This is an educational estimate to help you plan, not financial advice.
Free, and it usually takes one conversation.