Question

A company has two executives, a president and a CEO, each of whom is rewarded with an annual bonus. The bonus for each executive is calculated as a percentage of the net profit that remains after the bonuses of both executives have been deducted from the gross profit. The president receives 10% of the net profit and the CEO receives 6% of the net profit. If the gross profit is $900,000, what is the bonus amount, in dollars, for the president?

(Type a numerical answer, accurate to two decimal places. In a test, you would be expected to enter the correct units for your answer. In this problem, you only need to type the correct number).

Answer 1