JoAnne's Fabric buys merchandise with a list price of $12,400. Use the complement method to find the net price if the wholesaler offers trade discounts of 15/20/5. (Round to the nearest penny)

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The complement method involves subtracting each discount from 100% (or 1 in decimal form) to find the complement (the remaining percentage after the discount), then multiplying these complements together and finally by the list price to find the net price. For discounts of 15%, 20%, and 5%, the complements are 85% (0.85), 80% (0.80), and 95% (0.95), respectively. Multiplying these complements together: 0.85 * 0.80 * 0.95 = 0.646. Then, multiplying by the list price: $12,400 * 0.646 = $8,010.40.

JoAnne's Fabric Buys Merchandise with a List Price of $12,400