• This year, the buyer of the dress department hopes to increase annual profits (which were 2.5% of net sales, last year) from $10,000 last year to $20,000 this year.
• Operating expenses = 25%
• retail reductions = 16%
• no cash discounts
• no alteration costs

what was the initial markup %? (looking for % for last year, the information above is last years information)