COGS means "cost of goods sold." It's an accounting term that companies use to calculate their expenses and profits. If I take the example of an 80,000-word paperback novel that retails for $14.99, the cost of physical production is about $1.50. Paper and ink have never contributed much (percentage-wise) to the cover price of print books. Hence, removing that expense does little to reduce the overall cost of producing that book. This has ever been so.

Really? No COGS for an ebook? Nothing could be farther from the truth. The cost of developing an ebook is exactly the same as for paper: Acquisitions, editing, design, marketing, and everything else.

Tim, you've sent out 20 queries? Any particular reason why you're being so selective?