The value of a 2% trade discount is $160. How much is the list price? L = $_______

L = $8000
Explanation:Discount = 2% of list price
Discount = (2/100) x list price
160 = (2/100)L
160 = 0.02L
Divide both sides by 0.02
160/0.02 = 0.02L/0.02
L = $8000