Question: A retailer buys an appliance for $1480 less 25% and 15%. The store prices the merchandise at a regular selling price to cover expenses of

A retailer buys an appliance for $1480 less 25% and 15%. The store prices the merchandise at a regular selling price to cover expenses of 40% of the regular selling price and a net profit of 10% of the regular selling price. During a clearance sale, the appliance was sold at a markdown of 45%. What was the operating profit or loss?

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