Bakar's Baking Shop is trying to learn more about a competitor. Bakar's knows that the competitor sells a bag of flour for $10.48 and earns a markup on cost of $4.62 per bag of flour, but wants to know the competitor's margin on selling price. Calculate the competitor's margin on selling price for one bag of flour. (Rounding: penny.)

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THE SPECIFIC SUBJECT OF THIS QUESTION IS MARKETING METRICS.