A Producer Sells an Item to a Wholesaler for $4

Multiple Choice

A producer sells an item to a wholesaler for $4.00, and the wholesaler uses a markup of 25 percent on its selling price and the retailer uses a markup of 30 percent on its selling price. What will be the retailer's selling price to its customers?

A) $7.61
B) $7.55
C) $7.36
D) $7.24
E) $7.12