Part 1

A wallet is marked up $28, which is a 80% markup based on cost. What is the cost of the wallet and the selling price of the wallet?

a. The cost is $???

(Simplify your answer. Type an integer or decimal rounded to the nearest hundredth as needed.)

b. The selling price is $???

Part 2

A recliner chair that sells for $1,461 is marked up 60% of the selling price.

a. What is the markup?

b. What is the cost?

a. The markup is $???

(Round to the nearest cent as needed.)

b. The cost is $???

(Round to the nearest cent as needed.)