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Lunds Pro Shop purchased sets of golf clubs for $500 less 40% and 16 2/3%. Expenses are 20% of the regular selling price and the
Lunds Pro Shop purchased sets of golf clubs for $500 less 40% and 16 2/3%. Expenses are 20% of the regular selling price and the required profit is 17.5% of the regular selling price. The store decided to place a marked price on the clubs that allows it to offer a 36% discount without affecting its margin. At the end of the season, the unsold sets were advertised at a discount of 54% of the new regular selling price. What operating profit or loss was realized on the sets sold at the end of the season?
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