whats the cost

The Quick Plumbing Supply sells a set of faucets for $79.75. If a 45% markup based on cost was used, what was the cost of the faucets to Quick Plumbing? (Round to the nearest cent.)
$
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1 Answer

x+45%=79.75

1.45x=79.75

x=79.75 / 1.45

x=55
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