The Quick Plumbing Supply Sells a Set of Faucets for $79.75

question 129

Short Answer

The Quick Plumbing Supply sells a set of faucets for $79.75. If a 45% markup based on cost was used, what was the cost of the faucets to Quick Plumbing? (Round to the nearest cent)

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Definitions:

Market Price

The ongoing market cost for the purchase or sale of a service or asset.

Net Present Values

Net Present Values is the plural form of Net Present Value, referring to the calculation that determines the sum of the present values of all future cash flows associated with an investment, less the initial investment cost.

Market-to-Book Value

A ratio used to compare a company's market value to its book value, indicating the market's perception of the value of its equity.

Cash Offer

A proposal to buy assets, including securities or real estate, using cash as the form of payment without involving financing or loans.