hello
to solve this question, we need to calculate the dicount rate first and then the final tax rate to it.
discount rate of the ring = 40%
let's calculate 40% of $655.75
now the discount on the ring is $262.3
let's subtract the discount from the selling price to know the value of the ring
the value of the ring is $393.45
now we can proceed to find the tax on the ring and then add the value to the cost of the ring to get the selling price of the ring
sales tax = 6.25%
6.25% on 393.45
the sales tax imposed on the ring is $24.59
now we can proceed to add the value of the tax and the cost of the ring to get the selling price of the ring
from the calculations above, the selling price of the ring is $418.04