7. Your construction company recently bid against ABC Construction Company. Your construction costs were $265,815 and you added an 11% profit and overhead markup for a total bid of $295,055. ABC’s bid...

7. Your construction company recently bid against ABC Construction Company. Your construction costs were $265,815 and you added an 11% profit and overhead markup for a total bid of $295,055. ABC’s bid was $301,251. What profit and overhead markup would you need to add to your construction costs to get ABC’s bid?

Your construction company recently bid against ABC Construction Company. Your construction costs were $1,125,572 and you added a 6% profit and overhead markup for a total bid of $1,193,106. ABC’s bid was $1,179,999. What profit and overhead markup would you need to add to your construction costs to get ABC’s bid?