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Mack's Bike Shop receives the following trade discounts: 34/23/10. The vendor's price list indicates the percent off the list price is for purchasing bikes in quantities of 100 or more, percent off the list price is for assembling the bikes for customers, and percent is for sales promotion and local advertising, respectively.
Question 1: If the manufacturer's list price is $843, what should Mack pay for each bike if he orders 110 bikes at a time, assembles the bikes, and displays and advertises them? (Do not round intermediate calculations. Provide answer with two decimal points, i.e. 123.45)
Question 2: Mack is given terms of 3/15 n/30, and he pays by day 15. How much will he pay the manufacturer for the order of 110 bikes if his price per bike is $390.93?
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