FERMAT 2004 Problem 19

A computer software retailer has 1200 copies of a new software package to sell. From past experience, she knows that:

  • Half of them will sell right away at the original price she sets,
  • Two-thirds of the remainder will sell later when their price is reduced by 40\%, and
  • The remaining copies will sell in a clearance sale at 75\% off the original price.

In order to make a reasonable profit, the total sales revenue must be \$72\:000. To the nearest cent, what original price should she set?

Answer Choices
A. \$60.01
B. \$75.01
C. \$79.13
D. \$80.90
E. \$240.01