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Elanso [62]
3 years ago
9

Twenty years ago, a family purchased a vacant lot for $26,500. they made no improvements during the time they owned the property

. recently, they sold the lot for $62,275. what was their percentage of gross profit?
Business
2 answers:
KonstantinChe [14]3 years ago
3 0
To find the gross profit margin found by:
(revenue - cost of goods sold)/revenue

Revenue = $62,275
Cost of goods sold (purchase price) = $26,500

= (62,275 - 26,500)/62,275
= 35,775/62,275
= 0.57 x 100
Percentage of gross profit = 57%
sveticcg [70]3 years ago
3 0

Answer:

The percentage of gross profit is 57%.

Explanation:

This problem requires us to calculate the percentage of gross profit. Cost of item sold and its sale price is given in the question. Detail calculation is given below.

First calculating Gross profit

Gross profit = 62,275 - 26,500 = $ 35,775

Gross profit percentage = Gross profit/Sales * 100

                                          = 35,775/62,275 * 100 = 57%

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3 years ago
The table shows the predicted cost of attending an in-state four-year public college 4 years from now. Category Predicted Annual
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7 0
3 years ago
Read 2 more answers
When offering financial products to clients, you may:
Anton [14]

Answer:

d. All of the above.

Explanation:

All the three actions are appropriate actions for when offering financial products to clients.

a) is appropriate because prior clients are likely to have most of the information in the company's records.

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6 0
2 years ago
Audio engineers at 3XT2 have determined that an anechoic additive will increase isolation and improve signal to noise by about 2
Crazy boy [7]

Answer:

The correct answer is $83230

Explanation:

Solution

Given that:

The Present worth of geometric series is shown below

= A *[1 - (1+g)^n /(1+i)^n] / (i-g)

Now,

The present  cost of worth from EOY 5 to EOY 13 at EOY 4 = 7000 *[1 - (1+0.12)^9 /(1+0.15)^9] / (0.15-0.12)

Thus,

= 7000 *[1 - (1.12)^9 /(1.15)^9] / (0.03)

Which is,

= 7000 * 7.0572647

= 49400.85

Now, The NPW of all costs = 35000 + 7000*(P/A,15%,4) + 49400.85*(P/F,15%,4)

= 35000 + 7000*2.854978 + 49400.85*0.571753

= 83229.93

Therefore the sound improvement better result in a net present worth profit of how much to negate the costs is $83229.93 or 83230

Note: EOY = End of year.

6 0
3 years ago
Name four reasons for the success of the mongols as conquerors
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3 their military strategists were quite crafty - they relied on setting traps and tricking their enemies
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