In its second year of operation, a local Internet provider's profits were $164,500. If this amount was 486% of the company's first-year profits, find th first-year profits (to the nearest hundred dollars). Step 1 If we let x represent the company's first-year profits, then we can set up an equation in x using the fact that 486% is written in decimal form as 4.86 Since the second-year profits of $164,500 are 486% of x we have the equation (4.86 4.86 x x = 164,500. 4.86 Step 2 Solve this equation to find x. 4.86x=164,500 164,500 X = 4.86 X = (to the nearest $100) Enter an exact number.