A retail outlet purchases shoes for $27 each pair and sells them at a regular price of $39 each pair.

a.If the profit made is $4.5 per pair, calculate the overhead expense per pair.

Round to two decimal places

b.If the markdown offered during a Boxing Week sale is 20%, calculate the reduced selling price and the profit or loss made on the sale of each pair.

Reduced selling price:Round to two decimal places

Profit or loss made:Enter profit as a positive value or loss as a negative, rounded to two decimal places