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Joel purchased dress shirts to sell in his clothing store that has overhead expenses equal to 14.00% of costs. To make a profit of 15.00%

Joel purchased dress shirts to sell in his clothing store that has overhead expenses equal to 14.00% of costs. To make a profit of 15.00% of the cost, he sells them at a regular price of $70.00 each.

a. What rate of markdown is required to sell the shirts at break-even?

b. What rate of markdown is required to sell the shirts at cost?

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