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A clothing retailer knows that to break even and make a profit, he needs to have a minimum retailer margin (also referred to as a

A clothing retailer knows that to break even and make a profit, he needs to have a minimum retailer margin (also referred to as a contribution margin or gross margin) of at least 55 percent. If he is to sell a pair of shorts for the manufacturers suggested retail price of $49.99, what is the most he can pay the manufacturer for the shorts and maintain his margin?

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