Michaela, a college student, enjoyed this chapter in business mathematics and wanted to see for herself how a product moves through the merchandising cycle from a manufacturer to the consumer. During her summer holidays, she decided to study the merchandising cycle at her father's clothing store that was located in Delhi, Ontario. Answer the following questions. Round to two decimal places unless otherwise instructed.

While she was at the store, it purchased 1007 dress shirts that were listed for $48 each less trade discounts of 19%, 5%, and 2% from FXFusion in Vancouver. The store's operating expenses are 27% of cost and markup is 70% of cost.The store sold 535 shirts at the regular selling price. During a sale, it offered a markdown of 18% and sold another 274 shirts. It sold another 198 shirts at the break-even price.

What is the cost per shirt? Answer must follow format of xx.xx rounded to 2 decimal places.

What is the total amount of discount received on the purchase of all 1007 shirts from the manufacturer?

What is the single equivalent rate of discount for the three discounts on the cost only?

What is the regular selling price per shirt?

What is the sale price per shirt?

What is the break-even price per shirt?

Using your break-even price and regular selling price calculated in the previous questions, what would the rate of markdown have to be to reduce the selling price to the breakeven price.

What is the total profit or loss from the sale of all 1007 shirts at the calculated prices?