The following is Cullumber Company's income statement for the past year. Sales revenue $453,600 Cost of goods sold 272,160 Gross margin 181.440 Operating expenses 105,840 Operating income $75,600(a) V Your answer is correct. What is the markup percentage on cost of goods sold? (Round answer to O decimal places, e.g. 45%.) 67 % Markup percentage eTextbook and Media Attempts: unlimited (b) V Your answer is correct. What is the markup percentage on total cost? (Round answer to O decimal places, e.g. 45.) Markup percentage 20 % eTextbook and Media Attempts: unlimited(c) V Your answer is correct. What is the gross margin percentage? (Round answer to 2 decimal places, e.g. 45.00) 40 % Gross margin percentage eTextbook and Media Attempts: unlimited (d) If the company wants to sell a new product that costs $48 wholesale while keeping the same markup structure, what will be the price of the new product? (Use the gross margin percentage and round final answer to O decimal places, e.g. 25,000.) Price of the new product $ eTextbook and Media Save for Later Attempts: unlimited Submit