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A negotiated package is expected to cost $497,250. The contractor needs 11% margin on selling price. What price is required?

Correct Answer

B) $558,708

Divide cost by one minus margin.

Answer Options
A
$551,948
B
$558,708
C
$563,188
D
$577,500

Why This Is the Correct Answer

Divide cost by one minus margin.

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