To calculate the percentage change, you can use the following formula:
\[ \text{Percentage change} = \left( \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \right) \times 100 \]
In this case:
- Old Value (original cost) = $521.73
- New Value (sale price) = $413.68
Now, plug in the values:
\[ \text{Percentage change} = \left( \frac{413.68 - 521.73}{521.73} \right) \times 100 \]
Calculate the difference:
\[ 413.68 - 521.73 = -108.05 \]
Now plug this back into the formula:
\[ \text{Percentage change} = \left( \frac{-108.05}{521.73} \right) \times 100 \]
Now calculate the division:
\[ \frac{-108.05}{521.73} \approx -0.2063 \]
Now multiply by 100 to get the percentage:
\[ -0.2063 \times 100 \approx -20.63 \]
Therefore, the percentage change is approximately -20.63%, indicating a decrease in price.