If the retailer in problem 13 has planned retail reductions of $200,000, what is the initial markup?

a. 36.2%
b. 39.1%
c. 48.5%
d. 63.0%

Data from problem 13

A retailer has net annual sales of $3,000,000. Retail expenses are $260,000. Net profit is $400,000. Calculate the maintained markup at retail.