3M Inc. sells merchandise with a cost of $25,000 during the year to customer for...
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3M Inc. sells merchandise with a cost of $25,000 during the year to customer for $75,000. It is 3Ms policy to accept returns up to 60 days after the date of purchase. 3M estimates that there is a 60% probability that returns will be 4% of sales and a 40% probability that returns will be 1.5% of sales. What is 3Ms transaction price?
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