A markup of 33% based on cost is desired for a load of 800 bushels of peanuts. They were purchased at $5.85 per bushel. What should the selling price per bushel be after adjusting for an anticipated 21% spoilage rate? (Round answer to the nearest cent) a. $10.56 b. $7.78 c. $9.85 d. $3.91

Answer: Option 'c' is correct.Step-by-step explanation:Since we have given that Number of bushels of peanuts = 800Price of each bushels of peanuts = $5.85And there is mark up rate = 33%So, Total price would be [tex]1.33\times 800\times 5.85\\\\=\$6224.4[/tex]If there is spoilage rate = 21%So, the remaining rate would be 1-0.21=0.79so, Number of remaining bushels of peanuts would be [tex]0.79\times 800\\\\=632[/tex]So, Selling price per bushel would be [tex]\dfrac{622.4}{632}\\\\=\$9.85[/tex]Hence, Option 'c' is correct.