Question: True / False: A certain item has a production cost of $ 2 4 . The manufacturer takes a 2 5 percent markup, the wholesaler

True/False: A certain item has a production cost of $24. The manufacturer takes a 25 percent markup, the wholesaler takes a 20 percent markup, and the retailer takes a 50 percent markup. Therefore, the item has a retail selling price of $80.

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