How much would the selling price need to be increased in order to double profit if costs, production and sales volume remain unchanged?

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Toshi Ltd currently sets its selling price at $10, which achieves a 25% mark-up on variable cost.

Annual production and sales volume is 100,000 units and annual fixed costs are $80,000.

How much would the selling price need to be increased in order to double profit if costs, production and sales volume remain unchanged?
A . 12%
B . 17%
C . 20%
D . 25%

Answer: A