According to a March 3, 2012,EETimes.comarticle,Appleenjoyed a70% gross margin on its iPad 2 when it was first released in March 2011.

Given that the iPad 2 sold for $840, what was the cost to make it, assuming the70% gross margin?(Round answer to 2 decimal places, e.g. 0.38.)

In March 2012, the second year of production, the cost of producing an iPad 2 fell to an estimated $300.00. What markup percentage would Apple need to use to maintain its $840sales price?(Round answer to 1 decimal place, e.g. 25.2%.)