Graymont Industries purchases Solvate, a chemical compound used in several of its products, from ChemMaster....
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Graymont Industries purchases Solvate, a chemical compound used in several of its products, from ChemMaster. ChemMaster has just increased the list price of Solvate to $6.70 per gallon. However, because Graymont purchases a high volume of Solvate, ChemMaster grants the company a 16 percent discount off the list price. Charges for shipping Solvate from ChemMaster to Graymont's factory are $200 for a shipment of twenty-five 44-gallon drums. Special storage requirements cost $0.50 per gallon. Calculate Graymont's standard price for a gallon of Solvate. (Round answer to 2 decimal places, e.g. 3.51)
| Standard price per gallon |
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