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2. A department shows a gross margin of 41% (37.9% expenses + 3.1% profit) and lists retail reductions (i.e., markdowns, shortages, and employee dis- counts)

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2. A department shows a gross margin of 41% (37.9% expenses + 3.1% profit) and lists retail reductions (i.e., markdowns, shortages, and employee dis- counts) of 43%. What is the initial markup percentage

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