A store purchased 200 dehumidifiers at $85 each. The wholesaler sold 45% of them at the regular selling price of $109. It sold another 35 units at a reduced price. During a clearance sale, the remaining units were sold at cost.

a. If the net rate of markup was 15% on total cost, what should be the reduced selling price?

b. What was the rate of markdown offered during the sale?

AppendixLO1