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17 December, 03:45

Mike sells calculators. His competitor sells a new calculator line for $14 each. Mike needs a 40% markup on selling price to make his desired profit and must meet price competition. What cost can Mike afford to bring these calculators into the store? what is the dollar markup?

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  1. 17 December, 04:02
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    cost to afford to bring these calculators is $8.4

    markup on retail = 5.6

    Step-by-step explanation:

    given data

    selling price = $14

    mark up on selling = 40% = 40/100 = 0.40

    to find out

    What cost can Mike afford to bring these calculators

    solution

    we calculate markup on retail that is mark up on selling of selling price

    markup on retail = 0.40 * 14

    markup on retail = 5.6

    so

    cost to afford to bring these calculators = 14 - 5.6

    cost to afford to bring these calculators is $8.4
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