A furniture dealer purchased a desk for $240 and then set the selling price equal to the purchase price plus a markup that was 40% of the selling price. If the dealer sold the desk at the selling price, what was the amount of the dealer's gross profit from the purchase and the sale of the desk? Choose the correct option:  A) $40  B) $60  C) $160  D) $90  E) $100
Purchase price = 240   Selling price = x   240 + 0.4*x = x   0.6*x = 240   x = 400   Profit = 400 - 240= 
<gadget id="calculator">400 - 240</gadget>
<output>160</output>
160   ANSWER:$160
<result>C</result>
A furniture dealer purchased a desk for $240 and then set the selling price equal to the purchase price plus a markup that was 40% of the selling price. If the dealer sold the desk at the selling price, what was the amount of the dealer's gross profit from the purchase and the sale of the desk?