The bill of materials for each product at Mark's Office Supply is very specific, right down to the number of casters needed for each office chair. Mark recognizes how important these documents are for planning purposes, but his operations managers appreciate them as well since they use this information to guide their material requisitions when it's time for production. Here are the budgeted product costs and selling prices, respectively, for the company's three key products: Product Cost Selling Price Office chair $125 $219 Sit-to-stand desk 210 355 Printer stand 105 195 Mark has fine-tuned all cost expectations for his products, and his selling prices are quite stable for each product, as well. So, to say Mark was surprised when his accountant reported significantly less profit margin than what he was expecting is the understatement of the year. According to the accountant, the difference is almost entirely attributable to the significant and recent increase in shipping costs for the company's raw materials. These higher freight costs caused a 20% increase to the budgeted product costs presented above. (a) What gross margin percentage was Mark originally expecting to earn on each product, per the information provided above? (Round answers to 2 decimal places, e.g. 52.75%.) Gross margin percentage Office chair % Sit-to-stand desk Printer stand % %