Michael Stevens works in a local electronics store where he sells tablets for $249.50 each. If he maintains a markup of 40% on the selling price, what is the cost of a tablet to Michael?

SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter4: Gross Income
Section: Chapter Questions
Problem 18P
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Michael Stevens works in a local electronics store where he sells
tablets for $249.50 each. If he maintains a markup of 40% on the
selling price, what is the cost of a tablet to Michael?
Transcribed Image Text:Michael Stevens works in a local electronics store where he sells tablets for $249.50 each. If he maintains a markup of 40% on the selling price, what is the cost of a tablet to Michael?
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