The Wall Street Journal reported on September 19,2008, that FedEx Corp., in response to a 22% decline in net income for its first fiscal quarter, “will raise prices in January, cut capital spending, park aircraft, freeze most hiring and trim employees’ hours.” FedEx announced on March 2, 2009, and average increase of 6.9% for U.S. services to help offset a reduction in business effective immediately. If a FedEx First Overnight package costs $67.41 for a 1 pound package to ship today, what did it cost to ship before the increase? Round to the nearest cent.
wall street journal reported september 192008 fedex corp response 22 decline net income
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