1. Lucy has a jewelry business. To make a certain necklace, she spends $3.38 on materials and $5.57 on labor. She then sells the necklace for $15.99. Lucy’s profit on the necklace is equal to the sale price minus the cost of materials and labor\
) What decimal of every dollar of the sale price of the necklace is profit? Show your work. Round your answer to the nearest hundredth.
