Question: Determine the initial markup percent that will enable the department to achieve a 3.9% profit, using the following figures: Expenses: $169,020; Markdowns: 4.1%; Employee discounts:

Determine the initial markup percent that will enable the department to achieve a 3.9% profit, using the following figures: Expenses: $169,020; Markdowns: 4.1%; Employee discounts: 0.8%; Cash discounts: 3.0%; Shortages: 1.5%; Net Sales: $452,711

Select one:

a. 41.96%

b. 44.77%

c. 99.66%

d. 46.28%

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