1. What amount must be remitted if the following invoices, all with terms 4/10, 2/30, n/60, are paid on May 10?

$850 less 20%, 10% dated March 21

$960 less 30%, 16 2/3% dated April 10

$1040 less 33 1/3%, 25%, 5% dated April 30

2. High Tech Heaven purchased 500 electronic items for $280 each and sold 425 items at a markup of 80% on cost. Two month later, it sold 50 items at cost. Three months later, it sold the remaining items at 15% below cost. The overhead expenses are 20% on cost.

1. What was the total amount of markup realized?
2. What was the total amount of profit realized?