Par Putters Company sells golf balls for $29 per dozen. The store’s overhead expenses are 43% of cost and the owners require a profit of 20% of cost.
(a) For how much does Par Putters Company buy the golf balls?
(b) What is the price needed to cover all of the costs and expenses?
(c) What is the highest rate of markdown at which the store will still break even?
(d) What is the highest rate of discount that can be advertised without incurring an absolute loss?