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Verified Answer :

Hi! There is a relation between voltage, current, and power. It's very simple, too! It's voltage multiplied times current.
\(P=IV\)
or \(VI=P\) might be easy to remember because V.I.P. (like V.I.P. stadium seating)

Then you just have to work with units to get watts. Watts is volt-amps.

You can convert at any point to get watts as the unit. I'll turn the current to amps first.
\(40\text {mA}\cdot\frac{1\text A}{1000\text{mA}}=0.040\text A\)
Then, multiply \(VI=P\)
\(24\text V\cdot0.040\text A=0.96\text V\cdot\text A = 0.96\text W\)