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An import car dealer sells three models of a car. The retail prices and the current dealer invoice prices (costs) for the basic models and

An import car dealer sells three models of a car. The retail prices and the current dealer invoice prices (costs) for the basic models and options indicated are given in the following two matrices (where "Air" means air-conditioning). We define the markup matrix to be

MN

(markup is the difference between the retail price and the dealer invoice price). Suppose that the value of the dollar has had a sharp decline and the dealer invoice price is to have an across-the-board 15% increase next year. To stay competitive with domestic cars, the dealer increases the retail prices 10%. Calculate a markup matrix for next year's models and the options indicated.

Dealer invoice price

Retail Price

Basic Car

Air

AM/FM

Radio

Cruise

Control

Basic Car

Air

AM/FM

Radio

Cruise

Control

Model A

$30,922

$2333

$835

$452

Model A

$35,860

$2882

$1451

$624

Model B

$34,865

$1563

$696

$394

=N

Model B

$39,660

$1844

$836

$511

=M

Model C

$41,864

$2859

$1181

$679

Model C

$45,591

$3383

$1428

$852

Calculate a markup matrix for next year's models. Select the correct choice below and, if necessary, fill in the answer box(es) to complete your choice.

Basic

Car

Air

AM/FM Radio

Cruise

Control

Model A

$nothing

$nothing

$nothing

$nothing

Model B

$nothing

$nothing

$nothing

$nothing

Model C

$nothing

$nothing

$nothing

$nothing

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