Hill's Equipment and Service purchased $8,456.85 worth of parts in June and a combine for $162,560 in July. Hill's markup on the parts is 26 percent, and on the combine it is 4 percent. a. What is their total investment? b. What is the markup on the parts? c. What is the markup on the combine? d. What is the average rate of markup on the total investment?
Hill's Equipment and Service purchased $8,456.85 worth of parts in June and a combine for $162,560 in July. Hill's markup on the parts is 26 percent, and on the combine it is 4 percent. a. What is their total investment? b. What is the markup on the parts? c. What is the markup on the combine? d. What is the average rate of markup on the total investment?
Chapter1: Financial Statements And Business Decisions
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![Hill's Equipment and Service purchased $8,456.85 worth of parts in
June and a combine for $162,560 in July. Hill's markup on the parts
is 26 percent, and on the combine it is 4 percent.
a. What is their total investment?
b. What is the markup on the parts?
c. What is the markup on the combine?
d. What is the average rate of markup on the total investment?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7d64b7a0-8418-41fc-a5fa-a7474d3e8a32%2F64598bba-5ae6-4e28-bc8c-737c1e902ce3%2Fbek9o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Hill's Equipment and Service purchased $8,456.85 worth of parts in
June and a combine for $162,560 in July. Hill's markup on the parts
is 26 percent, and on the combine it is 4 percent.
a. What is their total investment?
b. What is the markup on the parts?
c. What is the markup on the combine?
d. What is the average rate of markup on the total investment?
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