A furniture dealer purchased a desk for $120 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?
Select:
A) $40 B) $60 C) $80 D) $90 E) $100
Purchase price = 120   Selling price = x   120 + 0.4*x = x   0.6*x = 120   x = 200   Profit = 200 - 150= 
<gadget id="calculator">200 - 150</gadget>
<output>50</output>
50   $40NSWER:$40
<result>A</result>
A furniture dealer purchased a desk for $120 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?