This Question: 4 pts 1 of 15 (0 complete) Th Sheridan Service sells oil at a markup of 36% of the selling price. Sheridan paid $1.04 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.)