DeWitt Company sells a kitchen set for $540. To promote July 4, DeWitt ran the following advertisement:

Beginning each hour up to 4 hours we will mark down the kitchen set 10%. At the end of each hour, we will mark up the set 1%.

Assume Ingrid Swenson buys the set 1 hour 50 minutes into the sale.

What will Ingrid pay?

A: ?

What is the markdown percent?

A: ?