Question: Suppose according to a March 3, 2012, EETimes.com article, Apple enjoyed a 61% gross margin on its iPad2 when it was first released in March

Suppose according to a March 3, 2012, EETimes.com article, Apple enjoyed a 61% gross margin on its iPad2 when it was first released in March 2011.

In March 2012, the second year of production, the cost of producing an iPad2 fell to an estimated $244.51. What markup percentage would Apple need to use to maintain its $640.00 sales price? (Round answer to 1 decimal place, e.g. 25.2%.)

Markup percentage

%

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