Matrix multiplication

A shop increases the prices of three products by different percentages. The original prices (in dollars) are represented by matrix $P = \begin{bmatrix} 40 \ 55 \ 70 \end{bmatrix}$. The percentage multipliers for the new prices are represented by matrix $K = \begin{bmatrix} 1.08 & 1.12 & 1.15 \end{bmatrix}$. Using matrix multiplication, find the total new cost of buying one of each product.