If a Mechanic's Hourly Rate of $12

question 3

Multiple Choice

If a mechanic's hourly rate of $12.25 is increased 11 1/3%, what is the new hourly rate to the nearest cent?

• A) $13.34
• B) $13.44
• C) $13.54
• D) $13.64

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Definitions:

Leveraged Buyout

A financial transaction where a company is acquired primarily with borrowed funds, often with the assets of the company being acquired used as collateral for the loans.

Economies of Scale

The cost advantage that arises with increased output of a product, as fixed costs are spread over more units.

Horizontal

A term describing alignment or arrangement on a single plane or level, often used to denote businesses operating at the same stage of the production process.

Anti-Trust Legislation

Laws aimed at promoting competition by regulating and preventing anti-competitive business practices.