Sydney's Siding made a basket purchase involving four assets.Their market values were A: $45,000;B: $37,500;C: $41,000;and D: $53,000.The price Sydney's paid for the four assets was $160,000.What percentage of the $160,000 price would be allocated to asset C to the nearest one-tenth of a percent?

Question

Quizplus · Accepted Answer

To calculate the percentage of the $160,000 price allocated to asset C, we need to first find the total market value of all four assets:

Total market value= A+B+C+D= $45,000 + $37,500 + $41,000 + $53,000 = $176,500

Then, we can find the percentage of the total price allocated to asset C:

Percentage of price allocated to asset C = (Market value of asset C / Total market value) x 100 
= ($41,000 / $176,500) x 100 = 23.24%

Rounding to the nearest tenth gives us 23.2%, which is option C.

Sydney's Siding Made a Basket Purchase Involving Four Assets