M & M meat shop sells lamb chops for $29 a package. The meat shops overhead expenses are 35% of cost and the owners require a profit of 20% of cost.

a) For how much does M& M meat shop buy the lamb chops? Answer= 18.71

b) What is the price needed to cover all of the costs and expenses? Answer= 25.26

c) What is the highest rate of markdown at which the store will still break even? Answer= 12.90%

d) What is the highest rate of discount that can be advertised without incurring an absolute loss?