Jay owns a local store where he sells garden equipment. He sells each unit of equipment at a price of $420, which includes a markup of 25% on the selling price. During a sale, he reduced the selling price by 35% and sold nine items. When a new model of the equipment was introduced to the market, Jay sold the five remaining items at cost. If there were 30 items in stock initially, calculate the following:

a. Total cost of the equipment.

b. Total sales of the equipment. C. Net amount of markup.

d. Net rate of markup based on total sales.

AppendixLO1