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An advertisement has a picture of a vacuum cleaner. From top to bottom, the text of the ad is as follows.

12 amp Powervac Plus
On-board tools
1 year Product Replacement Policy, $7.99
What is the percent markup based on selling price?
If the retailer pays $1.70 to the insurance company for each product replacement policy sold, what is the percent markup based on selling price of the vacuum cleaner and policy combination?
If 6,000 vacuum cleaners are sold in a season and 40% are sold with the insurance policy, how many additional "markup dollars," the gross margin, were made by offering the policy?

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