Unit 2 Lab Quiz 11 800337 Saved DeWitt Company sells a kitchen set for $490. To promote July 4, DeWitt ran the following advertisement Beginning each hour up to 4 hours we will mark down the kitchen set 11%. At the end of each hour, we will mark up the set 1% Assume Ingrid Swenson buys the set 1 hour 50 minutes into the sale. a. What will Ingrid pay? (Round your answer to the nearest cent.) Ingrid pays 07.00 b. What is the markdown percent? (Round your answer to the nearest hundredth percent.) Markdown percent 20.00