Mining equipment was purchased at a wholesale price of $1,365 less 35% and 5%. The retail price is based on a 31% mark-up on cost. The retailer's operating expenses is approximately 10% of the selling price. Determine the profit or loss realized if the product is put on sale for $938.56.

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The Answer of Mining equipment was purchased at a wholesale price of $1,365 less 35% and 5%. The retail price is based on a 31% mark-up on cost. The retailer's operating expenses is approximately 10% of the selling price. Determine the profit or loss realized if the product is put on sale for $938.56.

Mining Equipment Was Purchased at a Wholesale Price of $1,365