Thu's Tennis Emporium sells pro graphite tennis rackets for $290 each. The store's overhead expenses are 38% of cost and the owners require a profit of 25% of cost. During a clearance sale held every November after tennis season is over, the Tennis Emporium has a clearance sale where rackets are marked down by 30%.

Questions:

(a) For how much does Thu's Tennis Emporium buy the graphite rackets? Please show your work...(3 marks )

(b) Calculate the markup on the rackets ( 3 marks )

(c) Calculate markup as a percentage of selling price ( 2 marks)

(d) Calculate the sale price on the rackets ( 2 marks )

(e) Calculate the highest rate of markdown at which The Tennis Emporium will still break even? Please show your work (4 marks)