10 5/12 can be turned into a improper fraction by multiplying 10 and 12. You get 120. Then you can add 5 and get 125/12.
THE ANSWER IS 125/12!
Any number inside the modulus sign becomes positive. This means
and so we have,

Solving these gives us


However if we check the second solution in the original equation we obtain
. This is false and so
can't be a solution.
Therefore the only solution is
.
(Note: I'm not sure why the second solution didn't work but when there's a modulus sign involved it always pays to check your final answers to be sure. I'll have a think about it but in case you find out before I do, I'd be interested to know in the comments.)
1/4 pounds. Each pound is 4$ so each dollar would equal a forth of a pound.