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7. An office supply store adds a $2.50 markup to calculators and sells them for $9.95. (a) What is the cost (in $) of the

7. An office supply store adds a $2.50 markup to calculators and sells them for $9.95.

(a) What is the cost (in $) of the calculators?

(b) What is the percent markup based on cost? (Round your answer to the nearest tenth of a percent.)

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