Charity Event Profit Calculation

A school organizes a charity event to raise funds for local families in need. The event includes a bake sale, where each of the 15 students in the school is given a certain recipe to follow. The price for each item is calculated based on the ingredients used. The ingredients cost the school a total of $240, and they aim to have a total profit of 40% on the total expenses.

If each student sells their baked goods for the same price and they manage to sell 75% of what they made, how much money will they need to earn in total to meet their profit goal?