A photography dealer ordered 60 model X cameras to be sold for $250 each, which represents a 20% markup over the dealer's initial cost for each camera. Of the cameras ordered, 6 were never sold and were returned to the manufacturer for a refund of 50% of the dealer's initial cost. What was the dealer's approx. profit or loss as a percent of the dealer's initial cost for the 60 cameras?
A. 7% loss
B. 13% loss
C. 7% profit
D. 13% profit
E. 15% profit
A. 7% loss
B. 13% loss
C. 7% profit
D. 13% profit
E. 15% profit
