6 Rainbow Paints is discontinuing a line of paint that it purchased at $58 less 50% and 20% per 4-L pail The store's overhead is 40% of cost, and normal operating profit is 25% of cost. If the manager of the store is prepared to accept a loss of one-quarter of the overhead expenses, what markdown rate can the store offer in order to clear out the paint? (Do not round Intermediate calculations and round your final answer to 1 decimal place.) Rate of markdown 031412