After a Reduction of 16 2/3% of the Marked Price

question 11

Essay

After a reduction of 16 2/3% of the marked price, a pair of boots sold for $60.00. What was the marked price?

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Definitions:

Quarterly Dividend

A payment made by a corporation to its shareholders, usually as a distribution of profits, every three months.

Annual Dividend

A payment made by a corporation to its shareholders, usually on an annual basis, from its profits.

Preferred Stock

Preferred stockholders received dividends before common stockholders.

Common Stock

A type of stock where the stockholders receive dividends only when the board of directors elects to issue dividends.