A Purchaser Just Paid $48,727

question 96

Multiple Choice

A purchaser just paid $48,727.27 for a Crossover vehicle. If the markup based on cost was 45%, what was the cost of the crossover vehicle? (Round to the nearest whole dollar)

• A) $21,927
• B) $33,605
• C) $26,800
• D) $22,900

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Definitions:

Venture Capital

Funding provided by investors to startups and small businesses that have a high potential for long-term growth.

Funding Stages

The various phases of financial support provided to startups and businesses, which typically progress from seed funding to later-stage investments.

Dutch Auction IPO

A method of initial public offering in which the price of the shares is determined after taking in all bids and finding the highest price at which the total offering can be sold.

Private Placements

The sale of securities to a relatively small number of select investors as a way of raising capital.