Kwik Korner uses a markup of 60% of cost on all snack foods. The store's overhead has been determined to be 10% of cost. a) What is the operating profit on a party pack of chips if the wholesale cost is $2.75? (4 marks) b) What is the rate of markup on selling price? (2 marks) c) What is the breakeven selling price for the chips? (1 mark bonus)