Question: An item was marked up from $24.99 to $49.98 before it was marked down to $24.99 and sold at cost. Determine: a. The rate of

An item was marked up from $24.99 to $49.98 before it was marked down to $24.99 and sold at cost. Determine:
a. The rate of markup on cost.
b. The rate of markdown.

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