Brad Pham works as a department manager in a computer products store. One particular fax machine sells for $212.40 . Management told Pham that the markup on this fax machine was 45% based on selling price. Calculate the cost of the machine
100 . - 45% = 55%; 55% × $212.40 = $116.82 cost
Alternate Solution: 45% × $212.40 = $95.58 dollar markup;
$212.40 - $95.58 = $116.82 cost
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