Mike sells calculators. His competitor sells a new calculator line for $14 each . Mike needs a 40% markup on selling price to make his desired profit and must meet price competition. What cost can Mike afford to bring these calculators into the store? what is the dollar markup?

Answer:cost to afford to bring these calculators is $8.4markup on retail = 5.6 Step-by-step explanation:given data selling price = $14mark up on selling = 40%  = 40/100 = 0.40to find out What cost can Mike afford to bring these calculatorssolutionwe calculate markup on retail that is mark up on selling of selling pricemarkup on retail = 0.40 × 14 markup on retail = 5.6 so cost to afford to bring these calculators = 14 - 5.6 cost to afford to bring these calculators is $8.4