In evaluating the selling prices for products at her part$-$time retail job, Sharon asked her supervisor how the company sets its prices.

Her supervisor told her it applies a steady markup percentage on each product's cost. She selected a lightweight jacket off the rack and

noted its selling price of $$32.$ Her supervisor looked at the selling price and then told Sharon the company paid $$20$ for the item. What

markup percentage on cost is the company using to set its selling price? If the company instead used a $24\%$ markup percentage on cost$,$

what would the selling price have been? $($Round selling price to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Markup percentage based on cost

$\%$

Selling price

$