Problem:
On May 8, 2015, Leon's Kitchen Hut bought a set of pots with a $111 list price from Lambert Manufacturing. Leon's receives a 30% trade discount. Terms of the sale were 2/10, n/30. On May 14, Leon's sent a check to Lambert for the pots. Leon's expenses are 29% of the selling price. Leon's must also make a profit of 17% of the selling price. A competitor marked down the same set of pots 12%. Assume Leon's reduces its selling price by 16%.
Required:
Question: What is the sale price at Kitchen Hut?
Note: Provide support for your rationale.