Give the step-by-step reasoning process and then the final answer. At an auction event, the price of a TV, whose cost was $500, increased by 2/5 times its initial price. The price of a phone, which was $400, also increased by 40% from its original price. If Bethany had taken both items to the auction, calculate the total amount she received for the items after the sale at the auction.
If the TV's original price was $500, at the auction, its price increased by 2 / 5 * $500 = $200. The total price at which the TV was sold at the auction is $500 + $200 = $700. The price of the phone also increased at the action, a 40% increase which is 40 / 100 * $400 = $160. The total price that the phone was sold for after the auction is $400 + $160 = $560. In total, the TV and the phone sold for $700 + $560 = $1260 at the auction.
The final answer: 1260.