<human>:  James and Ali together own $250. If you know that James owns $40 more than Ali, then calculate the amount owned by James.
<bot>: Define a variable ** Let X be the amount owned by James. The amount owned by Ali is X - $40.
Write an equation ** The total amount owned by both of them X + (X - $40) = $250.
Simplify ** Combining like terms, we get X*2 - $40 = $250.
Simplify ** Adding $40 to both sides, we get X*2 = $290.
Simplify ** Dividing both sides by 2, we get X = $145.
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