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An item was purchased while on sale, with list price of $12,200 and net price of $8,200. Calculate the following. a. Calculate the amount of

An item was purchased while on sale, with list price of $12,200 and net price of $8,200. Calculate the following.

a. Calculate the amount of discount.

Round to the nearest cent

b. Calculate the discount rate.

%

Round to two decimal places

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