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The Kensington Corporation invested $2,500,000 in an operation to make wooden planks. The target operating income desired at the plant is $245,000 annually. The company

The Kensington Corporation invested $2,500,000 in an operation to make wooden planks. The target operating income desired at the plant is $245,000 annually. The company plans actual sales of 700 planks at $500 each. The managerial accountant reported a target rate of return on the investment of 15%. Required: Compute the markup percentage as a percentage of the full cost for the Kensington Corporation.

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