Bill Pierson Buys a 125-Foot Roll of Latex Tubing for $35

question 45

Short Answer

Bill Pierson buys a 125-foot roll of latex tubing for $35. Bill cuts the tubing into shorter pieces and resells all of it for a total of $57.50. Compute Bill's profit per foot. (Round to the nearest cent.)

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Definitions:

Ambiguous Contract Language

Refers to vague or unclear terms within a contract that can lead to different interpretations by the parties involved.

One-Year Lease

A rental agreement that gives a tenant the right to occupy a property for a period of 12 months.

Assigned the Lease

Assigned the lease refers to the process where an existing tenant transfers their rights and obligations under a lease agreement to another party, subject to the landlord's approval.

Pay Rent

The act of making a payment for the temporary use of a property or equipment owned by another.