I received stock at a 15% discount to the Fair Market Value, what was the Fair Market Value?
I know the discounted value of the stock and I want to know what the value of the stock was before the discount. The stock was discounted 15%.
x= Fair Market Value of the stock before discount (I want to know this)
y = discounted value of stock (I know this)
think the equation is some thing like this x = y + (x * .15)
40.77 = 34.65 + (40.77 * .15)
how do I solve for x ?
A percent discount is found. The response received a rating of "5/5" from the student who originally posted the question.