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Skato, a skateboard manufacturer, estimates that 1 in 100 of its Econoboards will have a defect. For each board that does not have a defect,

Skato, a skateboard manufacturer, estimates that 1 in 100 of its Econoboards will have a defect. For each board that does not have a defect, Skato makes $5.50, but for each defective board, it loses $45. What is Skato's net expected profit per item, rounded to the nearest penny?

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