Question: Bath n Bedroom sets its prices to allow for overhead expenses that average 50% of unit cost and a normal profit of 30% of cost.

Bath ‘n Bedroom sets its prices to allow for overhead expenses that average 50% of unit cost and a normal profit of 30% of cost. For towel sets priced at $39.89, determine:
a. The wholesale cost.
b. The rate of markup on selling price.

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