Richard purchased dress shirts to sell in his clothing store

| August 30, 2017

Question
Richard purchased dress shirts to sell in his clothing store that has overhead expenses equal to 13.00% of costs. To make a profit of 14.00% of the cost, he sells them at a regular price of $60.00 each.

a. What rate of markdown is required to sell the shirts at break-even?

b) What rate of markdown is required to sell the shirts at cost?

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