A General Motors incentive program designed to reduce inventory of certain low-selling models offers a $7,800 extra dealer incentive for each of these vehicles that the dealer moved into its rental or...

A General Motors incentive program designed to reduce inventory of certain low-selling models offers a $7,800 extra dealer incentive for each of these vehicles that the dealer moved into its rental or service fleets.

As the accountant for a dealership with a number of these vehicles left in stock, your manager has asked you to calculate certain invoice figures. The normal trade discount from GM is 18%. If the average sticker price (list price) of these remaining vehicles at your dealership is $21,500, calculate the following.

d. If the cars were then sold from the fleets at $1,200 over "invoice" (net price), what is the total percentage savings to the consumer based on the list price? Round to the nearest tenth of a percent.

Do not enter the percent symbol in your answer.

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