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4) The rate of markup on cost on a product selling at $60.98 is 49%. a. What is the cost of the product to the

4) The rate of markup on cost on a product selling at $60.98 is 49%.

a. What is the cost of the product to the retailer?

Round to the nearest cent

b. What is the rate of markup on selling price?

Round to two decimal places

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