JWT Co., an ad agency, has designed a quarter-page magazine ad for Promise vegetable-oil spray. The job required the services of a photographer to produce photographs of various foods that will "taste better with Promise." The invoice for the artwork from the photographer was for $200. If JWT uses the traditional markup, how much did the advertising agency bill Promise vegetable-oil spray company?

You are the manager of a large crude-oil refinery. as part of the refining process, a certain heat exchanger (operated at high temperatures and with abrasive material flowing through it) must be replaced every year. the replacement and downtime cost in the first year is $165 comma 000. this cost is expected to increase due to inflation at a rate of 7% per year for six years (i.e. until the eoy 7), at which time this particular heat exchanger will no longer be needed. if the company's cost of capital is 15% per year, how much could you afford to spend for a higher quality heat exchanger so that these annual replacement and downtime costs could be eliminated?