The mens dress shirt department has been given the following information to use in developing a merchandise plan for the fall-winter season:

Planned net sales $566,000

Operating expenses 35.8%

Planned profit 4.0%

Markdowns 11.5%

Shortages 1.1%

Stock Turnover 2.9

Calculate the initial markup percent.

Select one:

a. 36.93%

b. 39.8%

c. 46.54%

d. 41.85%