Hi-Lites Inc. purchased a ceiling light fixture for $480 less 40% and 25%. The fixture was then marked up by 120% of cost. Overhead expenses are 55% of cost. In an Anniversary Sale, Hi-Lites offered the fixture at 40% off. Determine:
a. The net cost of the fixture.
b. The amount of the markup.
c. The overhead expenses per fixture.
d. The regular selling price.
e. The sale price (reduced selling price).
f. The rate of markup on cost at the sale price.
g. The operating profit or loss at the sale price.