Question
Rolf's Golf store sells golf balls for $31 per dozen. The store's overhead expenses are 26% of cost and the owners require a profit of
Rolf's Golf store sells golf balls for $31 per dozen. The store's overhead expenses are 26% of cost and the owners require a profit of 20% of cost. a) How much does Rolf's Golf store buy the golf balls for? Answer in dollar amount per dozen. Round to the nearest cent. b) What is the price needed to cover all the costs and expenses? Round to the nearest cent. c) What is the highest rate of markdown at which the store will still break even? Answer as a percentage, round to two decimal places. d) What markdown rate would price the golf balls at cost? Answer as a percentage, round to two decimal places.
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