DeWitt Company sells a kitchen set for $320. To promote July 4, DeWitt ran the following advertisement:

Beginning each hour up to 4 hours we will mark down the kitchen set 8%. At the end of each hour, we will mark up the set 3%.

Assume Ingrid Swenson buys the set 1 hour 30 minutes into the sale.

a.What will Ingrid pay?(Round your answer to the nearest cent.)

Ingrid pays$

b.What is the markdown percent?(Roundyour answerto the nearest hundredth percent.)

Markdown percent%