Calculate the Net Price and Amount of Trade Discount (Use

question 79

Short Answer

Calculate the net price and amount of trade discount (use net price equivalent rate as well as single equivalent discount rate):
$$\begin{array} { | l | l | l | l | l | } \hline\text { Item } & \text { List Price } & \text { Chain Discount } & \text { Net Price } & \text { Trade Discount } \\\hline \begin{array} { l } \text { Troy-Bilt lawn } \\\text { mower }\end{array} & \$ 499 & 7 / 9 &? &? \\\hline \end{array}$$

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Definitions:

Total Revenue

The aggregate income a company garners from its sales of goods or provision of services over a designated period.

Quantity Demanded

The specific amount of a good or service consumers are willing to buy at a given price, holding all other factors constant.

Price

The expected, necessary, or contributed financial amount in exchange for something.

Total Revenue

The complete amount of income generated by the sale of goods or services related to the company's primary operations.