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4. A regional grocer bought 500 locally grown watermelons. They cost $1 each, and were priced at $5 each. Unfortunately, weather was colder than expected

4. A regional grocer bought 500 locally grown watermelons. They cost $1 each, and were priced at $5 each. Unfortunately, weather was colder than expected and the store needed to take markdowns of 50% to sell the watermelons. What is the initial margin percent? What is the maintain margin percent? Did the grocer make a profit?

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