Question: Suppose according to a March 3, 2012, EETimes.com article, Apple enjoyed a 61% gross margin on its iPad2 when it was first released in March

Suppose according to a March 3, 2012, EETimes.com article, Apple enjoyed a 61% gross margin on its iPad2 when it was first released in March 2011.

Given that the iPad2 sold for $640.00, what was the cost to make it, assuming the 61% gross margin? (Round answer to 2 decimal places, e.g. 0.38.)

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