Suppose that you work for a company that bids on contracts on a cost plus basis. The bid you are working on has cost of $12,400. Your company normally applies a markup of 15%. You have heard that 2 other companies have quoted bids of $12,000 and $15,000. What price should you quote? What other factors should you include in your bid for the customer to consider?

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.