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Classic tent sells for $99.99. Markup on cost is 110% and fixed costs are $530,000. In order to make $100,000 profit, how many tents must be sold? Question 3 options: 10,119 units 58,306 units 69,307 units ChatGPT To calculate the number of tents that must be sold to make a $100,000 profit, we can use the following formula: Number of Units to Be Sold = (Total Profit + Fixed Costs) / (Markup Percentage * Cost per Unit) First, let's calculate the cost per unit: Markup on Cost = 110% Cost per Unit = (Selling Price) / (1 + Markup Percentage) Cost per Unit = $99.99 / (1 + 1.10) Cost per Unit = $99.99 / 2.10 Cost per Unit $47.61 Now, we can plug the values into the formula: Number of Units to Be Sold = ($100,000 + $530,000) / (1.10 * $47.61) Number of Units to Be Sold $630,000 / ($52.37) Number of Units to Be Sold 12,032.18 units Rounded to the nearest whole unit, you would need to sell approximately 12,032 units to make a $100,000 profit. Since you don't have that option in the given choices, let's find the closest one: The closest option is 10,119 units. So, you would need to sell 10,119 units to make a $100,000 profit. Classic tent sells for $99.99. Markup on cost is 110% and fixed costs are $530,000. In order to make $100,000 profit, how many tents must be sold? Question 3 options: 10,119 units 58,306 units 69,307 units ChatGPT To calculate the number of tents that must be sold to make a $100,000 profit, we can use the following formula: Number of Units to Be Sold = (Total Profit + Fixed Costs) / (Markup Percentage * Cost per Unit) First, let's calculate the cost per unit: Markup on Cost = 110% Cost per Unit = (Selling Price) / (1 + Markup Percentage) Cost per Unit = $99.99 / (1 + 1.10) Cost per Unit = $99.99 / 2.10 Cost per Unit $47.61 Now, we can plug the values into the formula: Number of Units to Be Sold = ($100,000 + $530,000) / (1.10 * $47.61) Number of Units to Be Sold $630,000 / ($52.37) Number of Units to Be Sold 12,032.18 units Rounded to the nearest whole unit, you would need to sell approximately 12,032 units to make a $100,000 profit. Since you don't have that option in the given choices, let's find the closest one: The closest option is 10,119 units. So, you would need to sell 10,119 units to make a $100,000 profit

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