1. **State the problem:** Calculate the final price of a dining room set listed at $1500 with a 40% trade discount and $150 freight charges. 2. **Formula and rules:** - Trade discount amount = List price \times Trade discount rate - Net price after discount = List price - Trade discount amount - Final price = Net price after discount + Freight charges 3. **Calculate trade discount:** $$\text{Trade discount} = 1500 \times 0.40 = 600$$ 4. **Calculate net price after discount:** $$\text{Net price} = 1500 - 600 = 900$$ 5. **Add freight charges to get final price:** $$\text{Final price} = 900 + 150 = 1050$$ 6. **Answer:** The final price of the dining room set is $1050. This corresponds to option 1) $1,050.