1,Ivy purchases phones for $270.50 each and is selling them for $320.00 each.

a). What is the rate of markup on cost?(round to two decimal places.)

b)What is the rate of markup on selling price?(round to two decimal places)

2)Standard Appliances obtains refrigerators for $1,580 less 29% and 7%. Standard's overhead is 16% of the selling price of $1,620. A scratched demonstrator unit from their floor display was cleared out for $1,295.

a)What is the regular rate of markup on cost?(round to two decimal places)

b). What is the rate of markdown on the demonstrator unit?(round to two decimal places