Rodney runs a hardware store in Mississauga, Ontario. He purchases 400 phones from a distributor with trade discounts of 12% and 5% on the list price of $50 per phone. He sold 300 phones at the regular selling price of $75 each and offered a markdown of 25% on the next 75 phones. To ensure that he completes the stock, he sold the rest at break- even. The store's overhead expenses are 10% on cost.

a. Calculate his total profit or loss made from the sale of the phones.

b. What is the rate of markdown and amount of markdown offered on the remaining phones that are being sold at break-even?

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