sat-dog

The correct answer is $4.06$. It's given that the retail price is $290\%$ of the wholesale price of $\$7.00$. Thus, the retail price is $\$7.00\left(\frac{290}{100}\right)$, which is equivalent to $\$7.00\left(2.9\right)$, or $\$20.30$. It's also given that the discounted price is $80\%$ off the retail price. Thus, the discounted price is $\$20.30\left(1-\frac{80}{100}\right)$, which is equivalent to $\$20.30\left(0.20\right)$, or $\$4.06$.