Sheridan Service sells oil at a markup of 31% of the selling price. Sheridan paid $0.87 per litre of oil (a) What is the selling price per litre? (b) What is the rate of markup based on cost? (a) The selling price per litre is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The rate of markup based on cost is % (Round the final answer to two decimal places as needed Round all intermediate values to six decimal places as needed)