Alfonso was in the business of purchasing sculptures from Brazil and selling them in Toronto at his boutique. On one consignment listed at $2400, he received trade discounts of 10%, 8%, and 6%. The overhead expenses were 15% of his costs and he wanted to make an operating profit of 20% on cost.

a. Calculate the regular selling price of the sculptures.

b. Calculate the loss or profit he will make if he decides to markdown the selling price by 15%.

c. Calculate the maximum amount of markdown that he can offer so that he breaks even on the sale.

AppendixLO1