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Nickster Company purchased $8,000 worth of merchandise, FOB shipping point. Transportation costs were an additional $700. The company later returned $1,500 worth of merchandise and

Nickster Company purchased $8,000 worth of merchandise, FOB shipping point. Transportation costs were an additional $700. The company later returned $1,500 worth of merchandise and paid the invoice within the 2% cash discount period.

The total amount paid for this merchandise is:

A. $7,040

B. $7,056

C. $7,070

D. $8,526

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