Warren was making $100,000 per year. His boss said that he was going to cut his salary 25%, but that

Warren was making $100,000 per year. His boss said that he was going to cut his salary 25%, but that Warren shouldn't worry because he would be given a 25% raise the next day. How much will Warren's salary be after the 25% cut and 25% raise?

Cut salary:
100,000 * 0.75 = 75,000

New salary after raise:
75,000 * 1.25 = 93,750