You are working in fashion design as an office assistant. The designer wants to know how the sale of the product has performed financially in the first quarter. The company's CEO defines a good investment as one that provides 10% profit. In the first quarter this year, the company sold 300 designer shirts. Each shirt cost $12.50 to produce. The full retail price of each shirt was $45.00, but there were some shirts that sold for reduced prices.
Of the 300 shirts:
100 shirts were sold at a 25% discount each, which equaled [45 - (0.25 x 45)] = $33.75 each.
Seven shirts were returned and were re-sold at a 50% discount from the full retail price.
What is the gross sales for the returned shirts?