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3. A chain of specialty shops plans sales of $1,500,000 and retail reductions of $260,000. It needs a gross margin of $805,000 (i.e., expenses $550,000,

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3. A chain of specialty shops plans sales of $1,500,000 and retail reductions of $260,000. It needs a gross margin of $805,000 (i.e., expenses $550,000, profit $255,000 ). What should be the initial markup percentage

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