The wholesale price of a lamp is $44 and will be marked up by 40 percent. What is the retail price of the lamp?

A 40% markup means adding 40% of the wholesale price to the original price. Calculate 0.40 × $44 = $17.60, then add $17.60 to $44 to get a retail price of $61.60. The correct choice is $61.60.

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