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XYZ Company bought chairs at $35 each to be sold to the customers. The store's...

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Accounting

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XYZ Company bought chairs at $35 each to be sold to the customers. The store's overhead expenses are 40% of cost and the owners require a profit of 20% of cost. For how much does XYZ Company sell each chair? Hint: find the regular selling price (SP) of the chair after expressing overhead expenses (E) and profit (P) as functions of cost (C). Note: to receive the full mark, you will use 8 decimal places when performing the calculations, and there is no need to put dollar sign ($) or comma () in your final answer. You may leave 8 decimals in your final answer if you wish to do so

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