Give the step-by-step reasoning process and then the final answer. Roberto recently received a 20% raise from his previous salary, which was already 40% higher than his starting salary. If Roberto's starting salary was $80,000, what is his current salary?
Roberto has received 2 raises. On his first raise he received a 40% bump, therefore his new salary was $80,000 * 140% = $112,000. On his second raise, Roberto received a 20% bump, therefore his current salary is $112,000 * 120% = $134,400.
The final answer: 134400.