1. An off-price outerwear buyer negotiated a special purchase from a manufacturer who had availability on 1,500 pieces of different styles of raincoats at one low price of $25 each. The buyer decides to establish retail prices as follows for the different styles:

• 500 units of ponchos to retail at $49.99 each.
• 500 units of trench coats to retail at $54.99 each.
• 500 units of anoraks to retail at $59.00 each.

What markup percentage is realized on this purchase?